Citigroup Discloses Gender and Racial Pay Gaps, Plans Raises
- Move is first by a U.S. bank, following shareholder pressure
- U.S., U.K., German analyses to be rolled out globally
Arjuna's Lamb Says Pay Gap Issue Is a 'Tipping Point' for Citigroup
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Citigroup Inc. said it would measure, publish and take steps to close the gaps between what it pays men and women in three countries and for U.S. minorities.
The move follows a shareholder proposal filed by Boston-based Arjuna Capital and is the first of its kind by a big U.S. bank. As well as the U.S., Citigroup also studied pay in the U.K. -- where such reporting is now mandatory -- and Germany.