00:00Citigroup's Jane Fraser has pulled off a major political pivot.
00:04The big bank CEO has quietly won over President Donald Trump,
00:07navigating Washington's divide to chart a reputational comeback
00:11for the nation's third largest lender.
00:14For years, Citigroup has struggled to find its footing
00:16after getting the largest bailout of any bank during the financial crisis.
00:21The bank also adopted climate and diversity policies
00:24that Republicans and conservatives slammed as woke.
00:26But Fraser has changed that narrative with serious political savvy.
00:31Since Trump's return, she swiftly rolled back diversity initiatives,
00:35lifted restrictions on dealing with firearms companies,
00:38and built respect from the White House.
00:39The bank now also counts the president's children as clients of its private bank
00:43and set up a trust to hold some of the president's money.
00:47The reputational payoff is already visible.
00:49While Trump filed a $5 billion lawsuit against Jamie Dimon
00:53and JPMorgan for allegedly debanking him for political reasons,
00:56and also told David Solomon, the CEO of Goldman Sachs, that he should focus on being a DJ,
01:01he congratulated Jane Fraser and Citigroup on their big comeback in a post on TruthSocial.
01:07Fraser has dined with the president and King Charles at Windsor Castle
01:10and also joined the delegation for Trump's overseas trip to Beijing.
01:14With a big revamp at Citigroup, she's also pushed its stock price to its highest level since 2008,
01:20more than doubling that share price since Election Day in 2024.
01:24By outmaneuvering her peers, Fraser has insulated her bank from political ire
01:28while also riding a wave of the deregulatory agenda.
01:32Could this be a new corporate blueprint for surviving Washington in the age of Trump?
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