The newly appointed CEO of Citigroup, Jane Fraser, is the first woman to lead the Wall Street bank. While her background speaks to her talent, she also credits her success to her husband. Jane Fraser’s husband, Alberto Piedra, is the son of a U.S. ambassador and is a former banking executive. When better opportunities arose in his wife’s career, Piedra stepped back from his work to support and counsel Fraser. Fraser is admired for her impressive work-home balance with a lot of help from Piedra. This Alberto Piedra wiki reveals more on the CEO’s supportive husband.
|About Alberto Piedra|
|Known As||Alberto “Bert” Piedra Jr.|
|Birth||November 15, 1956|
|Spouse||Jane Fraser 1st June 1996 - till present|
|Parents||Alberto Martinez Piedra Sr., Edita Piedra|
|Alumni||University of Notre Dame, Indiana, Université de Grenoble, Arizona’s Thunderbird School of Global Management|
|Work||Marine Midland Bank (1982-1987)|
|Goldman Sachs (1987-2003)|
Alberto Piedra’s Family
Alberto “Bert” Piedra Jr. was born on November 15, 1956 to Alberto Martinez Piedra Sr. and Edita Piedra. He is the eldest of five children and has two brothers and two sisters.
Alberto and his siblings are of Cuban descent. Edita and Alberto moved to Washington, D.C., from Havana with their three eldest children in 1959.
The family also lived in Guatemala for few years when Alberto Sr. was the U.S. ambassador to Guatemala. He later served as the U.S. ambassador to the U.N. during the Reagan administration.
Alberto Piedra’s Education
Piedra graduated from the University of Notre Dame, Indiana, in 1978 with a degree in business. He decided to put off finding a job to study overseas.
He hadn’t decided what field he wanted to work in, but wanted to have an international career. That led him to study French at the Université de Grenoble in France. He’d return to the U.S. to pursue his MBA at Arizona State University’s Thunderbird School of Global Management.
Alberto Piedra’s Career
Alberto Piedra Worked in Finance and Investment Banking
Piedra’s resume boasts an extensive career spanning decades in the finance and banking industry. It began two years after he returned to the U.S., when he joined the Marine Midland Bank’s graduate recruitment program at 24 years old.
He was a corporate banker, analyzing the credit borrowers in Latin America, for a year. He was also assigned as a deputy representative for the bank in Spain. In Spain, he was building a network and also leaning towards investment banking.
He’d return to the U.S. to join Marine Midland’s new investment banking setup in New York. It led to an encounter with a representative from Goldman Sachs, who scouted him to expand the firm’s Spanish business.
Piedra entered the Goldman Sachs associate program in 1987. He was 29 then, and older than most of his peers in the program.
He learned on the job and built the M&A business in Spain. He was then assigned to return to New York to built Goldman Sachs’ Latin American merger business. His work also took him to London in 1999, and he eventually co-headed the company’s European operations in 2000.
Piedra would leave Goldman Sachs in 2003 after 16 years there. He worked for Bank of America before being recruited by Dresdner Kleinwort in 2007.
Two years later, Piedra and other employees sued Dresdner for unpaid bonuses. Piedra was reportedly owed approximately $3.5 million. The employees won the payout against Dresdner in October 2009.
Alberto Piedra Works in the Non-Profit Sector
Piedra witnessed several downturns in the market during his banking career. But he would leave the field during the 2008 recession.
His reasons weren’t related to the market slump. It was because his wife, Jane Fraser, was moving up in her career, and both decided that one of them needed to stay back to focus on their children.
Piedra, being a decade older than Fraser, had accomplished plenty during his career. While his employer was grappling with the 2009 crisis, he decided to step back from his job to support Fraser. He now uses his expertise from investment banking to help nonprofits.
Piedra has been on the boards of the World Wildlife Fund UK, Sentebale (Prince Harry’s charity in Africa), and the University of Notre Dame’s London Global Gateway.
Alberto Piedra and Jane Fraser’s Relationship
Alberto Piedra married Jane Fraser on June 1, 1996. They are parents to two sons, Gordon (born on November 26, 1999) and Cameron (born on September 26, 2001).
Their sons were born in London while Bert’s job was based there. The family later moved to Miami, Florida where the boys grew up. They dropped $6.1 million on a Coral Gables house they bought in 2015.
Cameron was a promising golf player while he was a student at Palmer Trinity School. He is now a student at Duke University, and is set to graduate in 2024.
Gordon is a researcher with the University of Miami Department of Physics.
The couple listed their home for sale earlier this month and are reportedly now in New York.