Surveillance: Citi Picks Fraser To Be Next CEO
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 10 September 2020
⏱️ 31 minutes
🧾️ Download transcript
Summary
Ken Leon, CFRA Director of Equity Research, discusses Citi's historic pick of Jane Fraser as the first female CEO of a major global bank. Carsten Brzeski, ING Chief Economist, says the European Central Bank is treading carefully. Kirk Hartman, Wells Fargo Asset Management President & Global CIO, says the gap between the momentum growth tech stocks and the value stocks is far too large and must close. Vadim Zlotnikov, Fidelity Institutional Asset Management President, says future levels of inflation will be driven by policies aimed at wealth distribution. Henrietta Treyz, Veda Partners Director of Economic Policy Research, says the undecided sliver of voters within the U.S. population has shrunk to about 6%.
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Transcript
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| 0:00.0 | Welcome to Crash Course, a podcast about business, political, and social disruption and what we can learn from it. |
| 0:07.0 | I'm Tim O'Brien. Every week on Crash Course, I'm going to bring listeners directly into the arenas where epic upheavals occur and |
| 0:15.5 | I'm going to explore the lessons we can learn when creativity and ambition collide |
| 0:20.7 | with competition and power. |
| 0:23.0 | Listen to Crash Course every Tuesday on the IHeartRadio app, Apple Podcasts, |
| 0:28.0 | or wherever you get your podcasts. Welcome to the Bloomberg surveillance podcast. I'm Tom Keene. |
| 0:43.5 | Daily, we bring you insight from the best in economics, finance, investment, and international |
| 0:48.9 | relations. |
| 0:49.9 | Find Bloomberg Surveillance on Apple Podcasts, SoundCloud, Bloomberg.com, and of course, |
| 0:56.2 | on the Bloomberg. |
| 0:57.5 | Ken Leon joins us now in banking, of course, helping out always with CFRA on this historic day of Jane Fraser taking over for |
| 1:07.0 | Michael Corbett at City and she has moved many many a time. |
| 1:10.3 | Kedaleon were you surprised by this announcement? |
| 1:16.5 | There's always a surprise when you have a change of leadership of this magnitude and it is historic because we have a world-class executive a woman taking |
| 1:27.1 | over one of the largest banks in the world. |
| 1:30.2 | This is exciting, she's got a stellar resume. What's Jane Fraser is, she's a known entity. |
| 1:37.0 | So, you know, Citi internally is not a troubled bank. |
| 1:41.0 | But Tom, in all our conversations, of course, with the impact of COVID-19, you know, |
| 1:46.7 | banks are just fighting their way up in terms of the trouble consumer market. |
| 1:57.0 | Before Paul jumps in here in the short time, was Mr. Corbett forced out? I don't have insight into that. |
| 2:02.0 | You know, clearly we've seen difficulty in terms of |
| 2:08.8 | city's performance especially in the consumer area which is one of the strengths of Jane |
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