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NEW YORK (AP) — Citigroup's Jane Fraser will become the first woman ever to lead a Wall Street bank when she succeeds CEO Michael Corbat in February. The New York bank announced the succession Thursday. Fraser is currently head of Citi's global consumer banking division, a major part of the bank that oversees checking and savings accounts but also Citi's massive credit card business. For 16 years, Fraser has worked in various departments within Citi:- 2015-19: Chief Executive Officer of Citi’s Latin American region.- 2013-15: Chief Executive Officer of the U.S. Consumer and Commercial Banking and CitiMortgage. - 2009-13: Chief Executive Officer of Citi's Private Bank. - 2007-09: Global Head of Strategy and Mergers & Acquisitions.In 2004, she joined the company in its Corporate and Investment Banking division.She previously worked at McKinsey & Company, Goldman Sachs, and Asesores Bursátiles.Fraser also serves as a member of the Board of Dean’s Advisors at Harvard Business School and Stanford University’s Global Advisory Council. She's also a member of the Council on Foreign Relations.She earned her M.B.A. from Harvard Business School and an M.A. in economics from Cambridge University.Fraser's climb to the CEO role is a major accomplishment in an industry long dominated by men. Corbat led Citigroup for eight years, rebuilding the company after it nearly collapsed during the Great Recession and 2008 financial crisis.Corbat had been with the company for 37 years. 1500
NEW YORK CITY — An illegal party on a New York City cruise ship was shut down early Sunday morning, city sheriff's deputies said.The Liberty Belle, which is operated by Empire Cruises, was spotted on Saturday departing from Pier 36 in Manhattan with dozens of people aboard, according to officials and photos of the boat.The person who posted the photo on Twitter said it appeared no one was wearing masks or social distancing.Manhattan Borough President Gale Brewer said her office would contact city and state agencies regarding the incident.The Sheriff's Office later said its deputies intercepted the owners and captain of the ship and arrested them for operating an illegal party in violation of social distancing provisions in the city and state emergency executive orders as well as other charges.A request for comment from Empire Cruises was not immediately returned.The company stopped operations in March because of the COVID-19 outbreak and a city emergency executive order, according to its website.This story was originally published by Lauren Cook on WPIX in New York City. 1095

NEW YORK (AP) — Wells Fargo CEO Charles Scharf is apologizing for comments he made about the difficulty of finding qualified Black executives. Scharf said in a memo released this week that “there is a very limited pool of black talent to recruit from” in corporate America. The comments and similar statements made in a Zoom meeting led to an intense backlash in Washington and from advocacy groups. Scharf on Wednesday said in a prepared statement that the comments he made reflect “my own unconscious bias.”“There is no question Wells Fargo has to make meaningful progress to increase diverse representation,” he wrote. 629
Nichole Jolly just confirmed what she feared: her childhood home, where three generations made memories, was now reduced to rubble.“This is where I came back when I was born,” she said through tears. “This is where my babies came back when they were born.”Jolly and her husband, Nick, had come to terms thinking the cat that lived with her mom probably didn’t make it. Jolly said her mom was given such little notice to evacuate, so she left with only the clothes on her back.But as if on cue, a head popped up from the rubble.“Oh my god, Nick!” Jolly cried out. “That’s our cat! Oh my god.”After a few minutes, they coaxed her out of the rubble. Jolly whispered an apology to little Kit Kat, nestled in her arms. The cat was now much thinner than the last time they saw her and her paws were singed.“I can’t believe she made this! She is a strong kitty. We have a strong family,” Jolly said.“I had to walk through fire too,” she said in Kit Kat’s ear.Jolly did, in fact, walk through fire. In fact, she barely escaped.It was last Thursday when the rapidly-moving fire was spreading through the town of Paradise—now 90 percent destroyed--where Jolly works as a nurse. She helped evacuate the surgical unit patients, putting them in any cars they could find, as gently as possible.And for that, she’s been dubbed a hero. However, Jolly thinks that saving her own life soon after was the real miracle.Jolly was in her car trying to escape, when the inferno suddenly surrounded her and many others on the same road.“I don’t even know where I am, it’s on fire,” Jolly said in a video she took from her car. “And we’re stuck in the middle of it. These trees could come down at any moment.”Cars were lined up and going nowhere.“I thought I was gonna be able to get out this way, but I’m stuck here, too,” she can be heard saying through tears in that same video.“We were screaming and running into each other with our cars. They pushed me off the road.”On Tuesday evening, she returned to that very spot for the first time since she almost lost her life.“I was all by myself. I was totally alone, and I called Nick and I said, ‘Honey, there’s flames all around me, and I’m gonna die. There’s no way I can make it out of this.’”Her husband had even begun to think about how he would tell their children their mom wasn’t coming home.“She was hysterical,” her husband Nick said, recalling their phone call. “And I couldn’t do anything to help her.”He suggested she get out and run. So, she did. Her shoes began to melt, and her clothes caught fire.“And I just had my arms out and I’m running, and I touched a firetruck.”She got inside it, but traffic was still at a standstill. Even the firefighters thought their chances for survival were grim.“I was sitting in the fire truck right here and just thinking, ‘OK, this is going to be a really painful death.’”But a bulldozer suddenly appeared, pushing the melting vehicles off the road.They made it out. But she hasn’t stopped reliving it. “I’ll never forget my screaming in the car, when the fire was just coming up on the side of it, and I was yelling for my husband ‘Oh my God, oh my God.’ I’ll never forget that. That’s what I wake up to every night.”But she takes comfort in knowing they, unlike some, still have each other.And they have Kit Kat. Tuesday evening, they brought her to her mom while she was at work to surprise her.“We found your freaking cat, mom,” Nichole shouted.Stunned, her mother could hardly find words.“Oh my god, you guys. I can’t believe this…. I thought she was gone!”Still alive. But now with eight lives left to spare. 3610
NEW YORK (AP) — It's clear where many of President Donald Trump's supporters who didn't show up for his campaign rally in Oklahoma last Saturday were instead. They were watching on television. Fox News Channel, which carried the rally live, had the biggest Saturday night audience in the network's 24-year history. CNN and MSNBC only took clips of the speech but covered the event, and doubled their normal Saturday audiences. News continues to dominate viewing in the absence of live sports or original scripted programming. Fox News Channel had a higher prime-time average last week than any other network, broadcast or cable. 636
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