(Bloomberg) -- The UK’s new chancellor, Rachel Reeves, is set to meet top Wall Street executives including Citigroup Inc. Chief Executive Officer Jane Fraser and Blackstone Inc.’s Steve Schwarzman on a visit to New York.
Fraser will join other Wall Street financiers for a breakfast meeting early next week with Reeves, who took office last month after a change of government in the UK, according to people familiar with the matter, who asked not to be named discussing a private schedule.
Spokespeople for Citi, Blackstone and the UK Treasury declined to comment.
Reeves, who is the first woman to helm the UK economy, has something in common with Fraser, who is herself both the first female CEO of a major Wall Street bank and British-born. Reeves already met with US counterpart Janet Yellen — the first female holder of her own office — at a summit in Rio de Janeiro last month.
This early flurry of economic diplomacy shows Reeves’ determination to boost foreign investment in the UK, where she is expected to raise taxes in October to fill a black hole in public accounts she earlier this week described as the economic legacy of her predecessors. The Telegraph newspaper on Saturday reported that she will also appear alongside new Prime Minister Keir Starmer at an international investment summit planned for Oct. 14 in the UK.
In the US, Reeves is set to attend a private dinner with Schwarzman, who leads the world’s largest private equity firm, said the people. The meeting, first reported by the Times, is notable given Reeves’ pledge to tax the private equity industry more by treating carried interest as income rather than as a capital gain.
--With assistance from Alex Wickham and Dawn Lim.
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