New York Citigroup Inc. introduced new diversity targets for gender, race and sexual orientation in its workforce for 2025, the bank said in a statement Tuesday.
The company aims to increase the global representation of women from the current 40.6% to 43.5% at the level of Assistant Vice President (AVP) to Managing Director (MD) by 2025.
In North America, Citi seeks to increase the ratio of black employees in the AVP to MD ranks from the current 8.1% to 11.5% over the same period. And in the United States, it aims to increase the percentage of Hispanic and Latino AVPs to MDs from the current 13.7% to 16%.
Citigroup last year became the first major Wall Street bank to appoint a woman, Jane Fraser, as its chief executive. In 2020, the company’s chief financial officer, Mark Mason, was the only black executive among nearly 80 leaders at the six largest US banks when the killing of George Floyd prompted a global echo over racism. Since then, large banks have resolved to diversify their management and workforce.
Citigroup expanded its worldwide hiring goals to include gay, lesbian, bisexual, transgender and questioning people in 2025 from the current 2.1% to 3.5%. And it further underscores the purpose of ethnic diversity in the UK and Brazil, and to recruit college students from under-represented communities.
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