Citigroup Has a Three-Year Plan to Reverse Its Falling Diversity
- CEO Michael Corbat wants 8% of U.S. managers to be black
- Bank’s diversity in U.S. workforce has dropped since 2009
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After years of scant progress on diversity measures, Citigroup Inc. has created hard targets for raising the percentages of women and African Americans in management positions by 2021, according to an internal memo signed by Chief Executive Officer Michael Corbat and the Executive Management Team.
Black employees in the U.S. will make up 8 percent of managers in roles from assistant vice president to managing directors within three years, up from 6 percent today. The bank also plans to boost the share of women in those management positions globally to 40 percent from 37 percent.