The Federal Reserve Bank of New York announced Tuesday that Jane Fraser, chief executive of Citigroup, has been appointed to the Federal Reserve Board of Governors’ Advisory Council.

The appointment is for a one-year term that began in January 2026.

The Federal Advisory Council comprises one representative of the banking industry from each of the 12 Federal Reserve districts and advises the Board on economic and banking matters.

The group meets four times a year in Washington, D.C. Members serve three one-year terms.

Fraser became the first woman to lead a major U.S. bank in 2021.