Citi names Jane Fraser as first female CEO of a major U.S. bank, Michael Corbat to retire in February 2021 [Video]

On Thursday, Citigroup, Inc. announced its current CEO Michael Corbat plans to retire in February of 2021. In his place, the major U.S. bank named Jane Fraser, President of Citi and the Chief Executive Officer of Global Consumer Banking. Yahoo Finance’s Emily McCormick joins The First Trade with Alexis Christoforous to discuss.