Allianz's El-Erian on Jane Fraser being named incoming CEO of Citi

Citigroup CEO Michael Corbat said that he is retiring in February after eight years leading the bank, and that the firm's retail banking chief Jane Fraser will succeed him, making her the first female CEO of a major U.S. bank. Mohamed El-Erian, chief economic advisor at Allianz, joins "Squawk Box" to discuss.
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Thu, Sep 10 20209:16 AM EDT