Citi CEO Jane Fraser has been appointed to the Federal Advisory Council (FAC) of the Federal Reserve for a one-year term, starting in January 2026. Fraser, the first woman to lead a major U.S. bank, will represent the Second Federal Reserve District, which includes New York. She will join 11 other prominent banking leaders who are tasked with providing valuable insights into economic trends, banking conditions, and regulatory challenges facing the financial sector.
Fraser’s role in the FAC allows her to directly advise the Federal Reserve Board of Governors, which plays a crucial role in shaping monetary policy and overseeing the U.S. banking system. The FAC convenes quarterly in Washington, D.C., where it discusses developments in the banking industry, financial stability, and potential regulatory shifts, ensuring the Federal Reserve stays informed on industry needs and challenges.
Understanding the Federal Advisory Council’s Role
The Federal Advisory Council is an advisory body composed of representatives from each of the 12 Federal Reserve districts. Its members meet quarterly to discuss key issues affecting the U.S. financial system and provide recommendations to the Federal Reserve Board of Governors. While it does not hold decision-making power, the council offers critical industry perspectives that inform the Fed’s policymaking process.
The council’s responsibilities include evaluating trends in banking conditions, exploring economic developments, and analyzing regulatory challenges faced by financial institutions across the country. Through these quarterly meetings, the FAC fosters a closer dialogue between the Federal Reserve and the banking industry, helping shape sound monetary policies and regulatory frameworks.
Jane Fraser’s Historic Leadership at Citi
Jane Fraser became CEO of Citi in March 2021, marking a historic milestone as the first woman to lead one of the largest financial institutions in the U.S. Her leadership has been pivotal in Citi’s transformation, focusing on strengthening the bank’s core business segments and advancing its digital strategy. Under her guidance, Citi has also worked on expanding its global footprint and focusing on sustainable finance, further solidifying its position in the banking sector.
In October 2025, Fraser was also appointed Chair of Citi’s Board of Directors, solidifying her leadership at the helm of both the bank’s operations and its strategic direction. Prior to becoming CEO, she held several key leadership positions within Citi, including CEO of Citi Latin America and Head of Citi’s Global Consumer Banking division. Her extensive career within Citi, which spans over two decades, has cemented her as a respected figure in global banking.
The Impact of Fraser’s Appointment on the Federal Reserve Advisory Council
As the first woman CEO of a major U.S. bank, Fraser’s appointment to the Federal Advisory Council represents a significant milestone for gender diversity in the financial sector. Her expertise in international banking, regulatory challenges, and risk management will bring a unique perspective to the council’s discussions, especially as the banking industry faces increasing scrutiny over issues like financial stability, digital banking, and sustainable finance.
Fraser’s extensive experience, particularly in Latin America and other emerging markets, positions her well to offer valuable insights on global economic trends and their implications for U.S. banking. Her deep understanding of consumer banking, investment strategies, and regulatory frameworks will be crucial in guiding the Federal Reserve’s decisions on monetary policy and financial regulations.
Citi’s Role in Global Banking and Fraser’s Influence
Citi has long been a key player in global banking, with a broad international presence across corporate, consumer, and investment banking. Under Jane Fraser’s leadership, Citi has sharpened its focus on digital transformation and sustainable business practices, addressing the evolving needs of global markets. Fraser’s appointment to the Federal Reserve Advisory Council is a testament to her leadership and Citi’s continued prominence in the financial industry.
Fraser’s influence extends beyond Citi; she has become a key voice in discussions surrounding financial regulation, economic recovery, and the future of global finance. Her work at Citi, combined with her role on the Federal Advisory Council, positions her to shape policies that could impact banking practices worldwide, from digital banking innovations to climate-conscious finance.
A Bright Future for Fraser and the Federal Reserve Advisory Council
Jane Fraser’s role at the Federal Reserve Advisory Council will undoubtedly enhance the council’s ability to provide industry feedback on pressing financial matters. As the global economy continues to evolve, Fraser’s expertise will contribute to shaping a more resilient, inclusive, and innovative banking system.
Her position as a prominent leader in the financial world highlights the increasing importance of diverse perspectives in policymaking. With her unique experience and leadership, Fraser will play a key role in the Federal Reserve’s ongoing efforts to navigate challenges in the banking sector and ensure economic stability in the U.S.
Fraser’s appointment to the Federal Reserve Advisory Council is not only a recognition of her outstanding leadership at Citi but also a significant milestone for women in finance. As a trailblazer in the industry, her continued impact on global banking and financial policy will be closely watched in the years to come.
