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Perspectives

Citi Private Bank’s commitment to global citizenship

By Citi Private Bank,

September 28, 2018Posted InCiti

Citi Private Bank is dedicated to serving the world’s wealthiest individuals, their families, and their family offices. While they hail from more than 115 different countries, our clients personify certain values and behaviors that transcend national borders. We call these values and behaviors ‘global citizenship.’

Global citizens – while proud citizens of their home countries – are increasingly global in their presence, in their thinking, and in their activities. They have family members, homes, businesses, and investments across many countries. They are natural entrepreneurs and innovators. They invest thoughtfully and give back to communities and to society in many different ways.

Citi Private Bank shares our clients’ global citizenship. We aim to enable them as they seek to benefit their communities and society as a whole, be it through their investment, business, philanthropy, or other activities. However, Citi as an organization is also committed to the values and behaviors of global citizenship in our own right.

Citi’s corporate approach to global citizenship is built on four tenets. Our business model seeks to add value to society. We focus on ethical decision-making and responsible business practices. We take a stand on issues that matter and drive solutions. And we stress transparency and knowledge building.

We put these tenets into practice every day. In 2017, for example, we gave $68 million to charitable causes aligned with our mission of enabling growth and progress. Citi Foundation also provided $79 million in grants to organizations focused on youth economic opportunities, sustainable cities, and financial inclusion.

As well as our contributions to such causes, we took a stand on some of the most important issues facing society. We also announced our goal to use 100% renewable energy in our facilities by 2020. We reiterated our support for the Paris Climate Agreement, the international initiative to fight climate change. We were signatories to important statements in favor of LGBT rights and against modern slavery. Our new commercial firearms policy aims to help prevent guns from getting into the wrong hands.

In recognition of our global citizenship, Citi was named as the World’s Best Bank for Corporate Responsibility in 2018 by Euromoney, the financial and media information group. In judging the award, Euromoney seeks to distinguish between organizations that tick boxes and those that seek to do serve society genuinely. Citi ‘has consistently demonstrated its commitment to work alongside communities and support their growth,’ wrote Euromoney.

To learn more about how Citi tries to serve the greater good, please see our Global Citizenship Report.