Story 319

Thank you Story 318 for this post. Building on this. This isn’t just an awkward shoutout over a ranking nobody at Citi can actually find — it’s the public capstone on a relationship that’s been quietly forming since Fraser reached out to congratulate Trump on his election win in 2024.

Eric Trump set up a trust at Citi holding some of his father’s money. That trust was reportedly handled with deliberate discretion, limited to a small circle including Citi’s Head of Wealth and [REDACTED].

Trump’s complaints in an August CNBC interview that JPMorgan Chase and Bank of America had previously refused to take his deposits after his first term, forcing him to “go to small banks all over the place”.

Citi looking past all that and taking him on as a client wasn’t a neutral business decision. It was a calculated bet that the relationship is worth the risk.

And the bet seems to be paying off.

Fraser has spent regular time in Washington, and was one of just two women in Trump’s 17-person business delegation to Beijing in May — and around the same time, Citi finally got the green light from Chinese regulators for its long-pending wholly-owned securities license in China, a process that had dragged on for over four years.

No doubt she has been talking herself up in DC.

The next glowing tweet might well be about Fraser’s “transformation” of Citi.

Worth remembering who built that narrative, and when.

https://finance.yahoo.com/news/eric-trump-signs-client-citigroup-120742809.html?guccounter=1

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