Citigroup CEO Jane Fraser was elected as chair of the board of directors, the bank said in a filing on Wednesday.Fraser replaces John Dugan, who has been chair since 2019 and will now become lead independent director. The board also granted a one-time equity award of $25 million that will vest fully within five years, to ensure “leadership continuity,” according to the filing.The board says Citi’s recent performance improvement “is directly tied to Fraser’s track record as CEO” and cites as accomplishments ...