Citigroup Inc (C)

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Citigroup Taps Goldman's Erika Irish Brown as Diversity Chief
By: TheStreet | March 26, 2021

• Citigroup has hired Goldman's Erika Irish Brown to lead its representation goals, diversity efforts and equity and inclusion work across the organization.

Citigroup (C) announced on Friday that it had tapped rival Goldman Sachs' (GS) chief diversity officer Erika Irish Brown to head up its up own diversity efforts.

In a company blog post, Citi's head of human resources Sara Wetcher wrote that Brown will join the bank in a few months as its new chief diversity, equity and inclusion officer and global head of talent.

Brown will drive Citi’s agenda on talent planning, succession planning, and leadership development while strengthening its diversity, equity, and inclusion work across the company.

"There is tremendous momentum behind our efforts to create a diverse, equitable and inclusive culture -- from our pay equity work, representation goals, expansion of diverse interview panels and interview slates, unique engagement with Historically Black Colleges and Universities (HBCUs) and more," Wetcher wrote.

“There is so much great work going on across the firm, and Erika will bring a fresh perspective,” Wechter added. “We are very excited to have her at Citi and know she will bring innovative ideas and initiatives that will help us think differently."

Brown previously was the first global head of diversity and inclusion at Bloomberg. At Goldman Sachs, Brown helped launch their diversity goals, board diversity efforts and the “One Million Black Women” initiative in which the bank vowed to invest $10 billion to address biases that black women face.

On Thursday, shares of banks rose in after-hours trading after the Federal Reserve said it plans to lift restrictions on bank dividends and share buybacks for most firms after June 30.

Earlier this week, Citigroup CEO Jane Fraser said she was implementing a ban on Zoom video calls on Fridays as part of an initiative called "Zoom-Free Fridays" to ease stress on employees of the financial giant. She also encouraged employees to take vacations.

Shares of Citigroup were rising 1.39% to $72.72 at last check on Friday.

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