Citi’s Statement on Financial Times Reporting from November 26, 2024

The Financial Times’ reporting about promotions at Citi is false. We provided the following statement:

Citi made firmwide changes to our organizational structure earlier this year, which included promotions and other role changes for a substantial number of colleagues, and managers have received guidance to take that effort into consideration at year end. That said, promotions are a key part of our talent strategy and while our year-end process is still underway, the notion that we will see a significant decline in promotions across the bank or other releveling is false.

December 5, 2024, update:

On December 5, 2024, Citi announced that 344 of our colleagues, based in 29 countries, have achieved the MD milestone, up from 304 colleagues last year. This is the first of Citi’s year-end promotion announcements.