CEO Michael Corbat Speaks at theEconomic Club of Washington

Today, Citi CEO Mike Corbat spoke at the Economic Club of Washington about the future of banking globally and the role that banks like Citi are playing. This is a timely discussion and one that has surfaced most recently due to the current presidential election cycle occurring in the U.S.

He discussed how Citi has changed since the financial crisis; how global banks such as Citi have gone back to their roots and have re-focused on "providing banking services to consumers and institutions" while becoming deliberately and globally "scaled to serve" clients; and how, in an era of globalization countries around the world need banks like Citi to help multinational companies "grow, expand and remain competitive in a rapidly changing world."

Mike also discussed the important role banks play in job creation, both directly and indirectly. In the U.S. alone, the 6 largest banks collectively employ about 1.15 million Americans, which in turn support additional non-financial sector jobs, bringing large banks' total employment contribution in the U.S. alone to approximately 2.5 million jobs. Large banks are also critical to job creation in less direct ways, including providing small business loans, consumer credit and mortgage services.

Our CEO also discussed the importance of telling our story in a more compelling fashion in order to help truly fulfill our mission - to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress.

To read the full text of Mike's remarks, click here.

Video credit: Economic Club of Washington, D.C.