NY Fed appoints Citi CEO Jane Fraser to Federal Advisory Council

March 31 (Reuters) - The ‌Federal Reserve ​Bank ​of New York said on Tuesday it has appointed Jane Fraser, chief executive of Citigroup, ‌to the Federal Reserve Board of Governors' Advisory ⁠Council.

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

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

In 2021, Fraser became the first ​woman to lead a major U.S. bank.

Separately on Tuesday, Fraser said in a note to ​clients that the bank's conviction ‌in the future of the Middle East region had not changed despite the current ⁠conflict.

She added that policy decisions are playing a more direct role in shaping trade, technology and capital flows.

"That said, ⁠recent weeks have exacerbated a dynamic that has been developing ​over time. The old-world order, and the assumptions that went along with it, are falling away, unlikely to return," Fraser said.

"They (clients) ‌are keeping a close eye on how governments around the world, particularly the ‌United States, embrace this resurgence of industrial policy and ⁠what it means for ‌them. We are ​too."

(Reporting by Prakhar Srivastava and Utkarsh Shetti in Bengaluru; Editing by Sahal Muhammed and Shreya ‌Biswas)

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