By Dawn McAvoy, Director of Marketing, Women and Company May 24, 2010 01:04 PM
My favorite t-shirt growing up proclaimed, "Anything boys can do, girls can do better." It made sense when I was 9, but a few decades later, I know it's a little more complicated. I think it's more accurate to say that women just do things differently. Even when it comes to finances.
And when it comes to our finances, women are entering a new age and taking a new approach. We are no longer just driving the purchasing decisions; we are also driving the saving, investment and philanthropic efforts for our households. A recent Women & Co. study shows that two-thirds of affluent women in the U.S. now consider themselves to be the CFO of their households.
By Pam Flaherty, President and CEO, Citi Foundation May 18, 2010 05:37 PM
At Citi we have not only an opportunity, but feel a sense of obligation to make a positive contribution to the communities we serve. Our work towards meeting that goal was recently outlined in our 2009 Global Citizenship Report, which featured the activities of the Citi Foundation, an organization I have the privilege of leading.
The Foundation, which is committed to the economic empowerment of individuals and families (particularly those in need), provides grants for programs that complement Citi's citizenship efforts in five key areas: microfinance and microenterprise, small and growing businesses, financial capability and asset building, college and careers and neighborhood revitalization in the United States.
By Heather Dahill, Chief Operating Officer, Women and Company May 17, 2010 05:17 PM
It's no surprise for anyone to hear that being a woman in the U.S. today is very different than it was only a short while ago. Over the past few decades, women have boosted their earning power, their financial acumen, their confidence, their affluence and their influence.
Today, women control 60 percent of wealth1 and own 40 percent of the businesses in the U.S. -- businesses growing at twice the rate of U.S. firms as a whole.2 Women are on the verge of outnumbering men in the U.S. workforce, and by 2028 the average woman is projected to earn more than the average man.3 Proof that in this modern era, women are moving forward, effecting change and gaining momentum.
By Brad Dinsmore, Head of Retail Banking, North America Consumer Banking, Citi May 14, 2010 04:38 PM
Citibank is committed to putting its customers first. As a demonstration of that commitment, we have launched "Our Promise to You" -- a nationwide initiative built on the promises we make to our customers every day:
We promise to help protect their identities with world-class fraud services and identity theft solutions; we promise to reward them for telling their friends about us, by offering up to $500 to refer five friends; we promise to be there when they need us, by extending our weekday and weekend branch hours in many areas; we promise to listen to them and address their concerns with care, by inviting customers to come inside our branches and speak to us, or by phone or online anytime; we promise to help them define and work towards their financial goals, by offering expert financial guidance with Citi Personal Wealth Management; we promise to reward them for banking with us, by offering the benefits and rewards of our "ThankYou® Network"; and we promise to give back to their communities through a variety of local nonprofit partnerships.
By Citi May 13, 2010 05:41 PM
Leon Kalvaria, vice chairman of the institutional clients group at Citigroup, recently sat for an interview with The Deal magazine, discussing, among other things, news-making mergers between emerging market companies and major developed market brands.
Citing deals such as the Chinese automaker Geely's acquisition of Volvo and Ford's sale of Jaguar and Land Rover to India's Tata, Kalvaria explained the logic behind them: "[Y]ou're seeing people in the emerging markets buying technology or brands one way, and people the other way buying growth."
The M&A banker said established brands are open to takeovers by acquirers from developing markets. "I think it's a new world ... People recognize that they're good buyers. And if people want their brands to grow and thrive, they will have to go to the places where there's capital and growth."
By Lisa Caputo, Citi Executive Vice President and Chief Marketing Officer May 12, 2010 05:45 PM
The days of frivolous shopping appear to be over -- at least for young women.
Data from Citi's recent survey conducted by Hart Research Associates found that women between the ages of 18 and 39 are focusing more on managing their money wisely than spending on material goods.
By Citi May 11, 2010 12:58 PM
Consumer financial products, such as debit and credit cards, are powerful tools to be used carefully. That's why at Citi, we make it a priority to embed in them features that give our customers more choice and control in how they spend, save and borrow.
We're proud to have industry-leading innovations that help our customers take charge of their finances. For example, our Citi Forward® card rewards our customers for using credit wisely and helps them see the benefits of maintaining healthy credit. Those consumers who make purchases within their credit limit and make timely payments on their card can reduce their purchase APR. Our award-winning Use Credit Wisely website also offers consumers important financial education information and tools.
By Lisa Caputo, Executive Vice President and Chief Marketing Officer, Citi May 10, 2010 03:19 PM
Among Citi's many accomplishments this year, there is one of which I am particularly proud -- the 10-year anniversary of Women & Co. Over a decade ago, Citi sponsored a conference for executive women where we heard that women were looking for more support from financial services companies when it came to personal wealth management. An idea was born.
Since women have distinct financial realities -- they live longer, spend more years in retirement and take more time out of the workforce to care for family -- they need to have the information and resources to address their unique situation. Recognizing this dynamic, Citi launched a financial resource dedicated to women's financial realities, the first of its kind and a leader in the industry today.
By Gladys M. Coupet, Citi Country Officer-Haiti May 07, 2010 05:47 PM
The devastating earthquake that struck my home country of Haiti earlier this year took hundreds of thousands of lives, including five of our Citi colleagues, and continues to impact millions. And while we don't know how long it will take to recover, Citi is taking a major step in the right direction by providing $1 million in charitable contributions to local microfinance institutions -- grants that will help create jobs and contribute to long-term economic development.
The funds will be distributed to three organizations: Fonkoze, FINCA Haiti and SOGESOL -- all experienced microfinancing institutions with impressive records of success here. These groups will extend credit as well as grants to entrepreneurs and small business owners who provide needed services and are the future of the Haitian economy.
By Vikram Pandit, CEO May 06, 2010 11:38 AM
Today, Citi is making a major investment in the U.S. economy by launching the $200 million Communities at Work Fund (CWF) -- the largest fund in the nation dedicated to offering financing to small businesses and community service providers in low-income communities.
The Fund, and our investment in it, are a true reflection of our strong commitment to the communities we serve, and to providing them credit that creates jobs and opportunity.