Comment: Jane Fraser’s rise to Citigroup summit boosts all women on Wall Street

Comment: Jane Fraser’s rise to Citigroup summit boosts all women on Wall Street

Citigroup's soon-to-be chief executive Jane Fraser is not the first foreigner to lead one of the main US banks. The Scot is not even the first former McKinsey consultant to make it to the very highest echelons of Wall Street, since Morgan Stanley boss James Gorman is both Australian and once of McKinsey.

Ms Fraser's novelty is her gender. As Citi's chief executive designate, she is set to become the first woman to lead a big Wall Street bank when she takes the mantle from Mike Corbat in February. 

This is 2020. Wall Street has been trying to tame its gender problem for more than a decade. Ms Fraser's sex should not matter. Ms Fraser's sex matters very much indeed. 

It matters to the women of Citi, who flooded professional