Hello, Miami!

As we launch the City Profiles, dedicated to highlighting Citi's history in some of our key U.S. markets, we speak with three Miami-based Citi leaders – including Barbara Romani who has worked at Citi for over 53 years! – to get their perspectives on Citi's ongoing involvement with Miami.

What is your favorite milestone from Citi's history in Miami and how do we continue to enable progress in the city today?

Diane: Citi has a long retail bank history in Miami dating back to 1926, and I find it very fascinating that we were instrumental in financing the Florida East Coast Railway and 3 other railroads, all serving Florida, in the early 1900's. I believe the recent launch of the new multi-channel retail distribution model will become a milestone of progress. This new model includes a variety of branch sizes and capabilities, equipped with advanced technology to help better serve the needs of our increasingly digital and global customer base in Miami. Our customers in Miami are very tech savvy and as such Citi is committed to bring to market products and solutions to meet their needs.

Barbara: I have been honored to work at Citi for over 53 years, so I have seen first-hand how the bank has evolved across the country but especially in Miami and South Florida. The city has and always will be a gateway to America for those wanting a better life for themselves and their families. But despite the booming economy and countless high rise condos under construction, the benefits of economic growth in the region are not being felt by everyone. That's why I am proud that in 2013, Miami was selected as one of 10 target cities to be part of the national Family Assets Count Program, a partnership of Citi Community Development and the Corporation for Enterprise Development, which focuses on developing the next generation of policies and solutions to address growing household financial vulnerability. The program found that in Miami, 67% of households are "liquid asset poor" meaning they do not have enough savings to live above the poverty line for three months in the event of a loss of employment or financial shock. As a result, Citi is working with local policymakers, community groups to help develop programs, services and policies that strengthen financial stability for all Miami's residents.

Luke: From my perspective, one of the most pivotal milestones in our history in Miami took place in 1999 when we moved the Citi Latin American regional offices to Miami. Miami truly is the gateway to Latin America, and much of our client base has interests and ties to the region. Our ability to work seamlessly with partners in other parts of the bank as well as across Latin America allows us to really deliver for our customers and clients in Miami.

What are some of the key opportunities facing clients and customers in your market?

Diane: With all of the technological advances taking place to better serve our tech savvy clients, we are poised to provide them with best-in-class digital solutions while still delivering a remarkable experience for individuals who prefer or require the human touch. Additionally, as we continue to integrate and expand our systems, the products and solutions available to enhance our customers' lives will be seamless and provide truly client-centric opportunities.

Luke: The demographics of Miami are becoming increasingly international, and as such it is serving as a launching pad for companies looking to do business in LATAM and the U.S. Our Miami hub allows us to provide the necessary services both domestically and internationally.

Barbara: Citi has always been a place that has promoted experimentation and innovation. Nowhere was this more evident than at Citi's Fintech Meet Up held earlier where working with Citi Inclusive Finance, Miami's thriving local developer ecosystem came together, exchanged ideas, and developed solutions that harness technology to promote expand financial access and improve client experience. It's no wonder that in 2014, a Miami-based firm won Citi's inaugural Mobile Challenge with an innovative ATM enhancement. That's the kind of enterprise and creativity which makes Miami exciting and a natural place for Citi to be.

In working on the City Profiles project, did you learn anything surprising about the history of Miami and Citi's involvement there?

Diane: I was proud to learn that Citi has supported Miami through many challenging times, including after Hurricane Andrew hit the region in 1992. At the time, this was the costliest hurricane in U.S. history, and Citi partnered with the residents of Miami and their communities to help the city in its recovery efforts.

Barbara: I think it is important and will surprise people that our commitment to affordable housing in Miami dates back to 1993 through our contributions to the Florida Housing Equity Fund. Like in many large cities around the world, affordable housing for residents is a pressing concern and I am proud of Citi's efforts in this area in my own city. In addition, Citi Community Capital's more recent investments in downtown Miami and beyond have rejuvenated neighborhoods and created opportunities for all residents.

Luke: For me, this project provided me with an understanding of the long-term commitment that Citi has had to Miami. When you look at Citi's involvement in Miami, the cumulative impact of the efforts both from the businesses as well as from the Citi Foundation and Citi Community Development are truly impressive.

Looking forward, what are you most excited about for Citi's future in Miami?

Barbara: I am very excited to be able to witness the local impact of the Citi Foundation's Pathways to Progress program. Miami is one of ten U.S. cities involved in the inaugural Pathways program, and as this initiative continues to grow and develop we are looking forward to deepening our relationships with municipal leaders and other organizations in the youth empowerment and leadership space.

Diane: This project really cemented for me the fact that Citi's involvement in Miami is not a new commitment; it is truly a long-standing commitment, and one I am looking forward to continuing to support through our business activities.

Luke: Miami is of growing importance in both the U.S. and global economy. Very few firms have the skill set to deliver a truly global experience as Citi does and as the needs of Miami continue to align with Citi's strengths I am looking forward to seeing our involvement and ties to the city deepen further.

Please visit the full Miami City Profile for more information.