Incoming Citi CEO Jane Fraser says she’s proof that working part-time is not a profession killer


Good morning, Broadsheet readers! Congresswomen drill CEOs on drug pricing, Hillary Clinton debuts her podcast, and incoming Citi CEO displays on probably the most vital moments of her profession. Have a robust Thursday.

– ‘Simply calm down, chill, take a step again.’ Jane Fraser is ready to change into the primary feminine CEO of a serious U.S. financial institution in February when she takes the helm of $103 billion Citi. So the recommendation she offered at the Fortune Most Powerful Women Summit yesterday may appear counterintuitive: chill.

Fraser, whose appointment to CEO final month broke Wall Street’s stubborn glass ceiling, stated that instruction was instrumental earlier in her profession when she felt the necessity to go all-in at house and at work. “I believe the most effective piece of recommendation I received was: Why am I in such a rush?” Fraser informed me. “I keep in mind certainly one of my mentors saying to me, ‘Jane, you’re going to have a number of careers in your life, and your careers are going to be measured in a long time, so why this sense of rush and attempting to have all the things on the identical time? Simply calm down, chill, take a step again and benefit from the course of extra, and benefit from the totally different phases of your life.’”

For that cause, Fraser selected to work part-time after being named a companion at consulting agency McKinsey, her earlier employer. That call to carve out “treasured” time together with her youngsters was vital to her later skilled achievements. “I’m so glad I did it,” she stated. “I actually don’t suppose I’d be right here at present if I hadn’t.”

On the identical time, Fraser says she understands the hesitancy that some working dad and mom would possibly really feel about taking a step again from work. She hopes her personal expertise proves that unorthodox or extra versatile work preparations are usually not career-enders.

“I’m an instance that it doesn’t must sidetrack you from the longer-term targets” she stated.

One other essential profession juncture was Fraser’s choice to just accept the function of working technique for Citi at the start of the monetary disaster. She was initially uncomfortable with concept of taking the job, however heeded a buddy’s recommendation to beat the concern of failure. From there, Fraser received “hooked on stretch roles,” she stated, “since you do be taught a lot.”

The 2020 MPW Summit will wrap up at present with conversations with Magic Leap CEO Peggy Johnson, IBM government chairman Ginni Rometty, Sam’s Membership CEO Kathryn McLay, and extra, together with a particular remembrance of Justice Ruth Bader Ginsburg. We’ll have the inside track from Day 3 tomorrow; there are extra highlights from Day 2 under.

Claire Zillman
[email protected]

At this time’s Broadsheet was curated by Emma Hinchliffe