Jane Fraser and Hannah-Beth Jackson, two women’s names you should know.
While they are doing very different work on opposite sides of the US, they are both in their own way advancing women’s rights and status in the workplace.
Jane Fraser has shattered an important glass ceiling by being named a CEO of a major financial institution in the US, while Hannah-Beth Jackson—a State Senator in California—arguably has helped to pass some of the most important laws protecting women in the workplace in the US. In this article we have added several links where extensive reading on these two inspiring women is available.
First Woman to Lead a Major Financial Institution
Jane Fraser of Citigroup, will become the first woman to lead a major finanancial institution in the United States. This is an important milestone as well for closing the economic gender gap. While women have risen to higher ranked positions in companies and the government, Wall Street has been one of the hardest places to change.
Additionally, women remain largely underrepresented in top positions both in, and out of the financial world. Of the 500 companies that make up the S&P 500 stock index, women make up only 31 CEO’s of these companies.
In February Fraser will formally take over as CEO of Citigroup, which is the United States’ third-largest bank. Citigroup issues the most credit cards in the world, and currently has $1.96 trillion in assets. Fraser is well prepared for this position as she currently oversees Citigroup’s largest division, consumer banking.
More Women to Follow Her Lead
Fraser’s appointment drew praise and excitement from women and men in the financial world. It has also drawn speculation about the fact that now Fraser has broken this glass ceiling in the financial world. Which women might be next to take over some of America’s other largest financial institutions? Among those are at JPMorgan, where two women currently serve at the highest positions below the CEO, Jamie Dimon.
Fraser steps into the bank at a time when both the US economy and the global economy is facing much uncertainty and turbulence. However, those around her have spoken of her high qualifications for the job. In previous interviews, Fraser herself has spoken about her nervousness and own self-doubt. However, she has also spoken about the importance of surrounding yourself with a great team to navigate difficult situations.
Laws Protecting Women in the Workplace
On the other side of the US, Hannah-Beth Jackson is doing important work that is helping make waves across the rest of the US. As a State Senator in California, she has recently been behind some of the most progressive and important laws that protect and boost women’s workplace rights in California.
One of her main achievements include California’s Fair Pay Act in 2015, which ensures that workplace pay differences are not based on gender. Additionally, she wrote Senate Bill 826 which requires that boards of companies add more women or face a large fine. This law created a large debate within the country, and afterwards saw many companies and other states implement similar laws.
In a recent interview with the New York Times, Ms. Jackson spoke about everything from the role of the government in addressing gender equality, to other laws and rules she wants to pass.
Beyond California’s Borders
While Ms. Jackson is a Senator in California, her impact goes beyond California’s borders. California often serves as a leader and a role-model for the rest of the US, where what happens there may create a domino effect in other parts of the country.
These are two important women who don’t show any sign of stopping anytime soon with the important work they do. Make sure you keep an eye on what they will be doing, something that we at SHE Community’s Insight Magazine certainly plan to do. We hope you enjoyed this editions installment of Women You Should Know. •