Results tagged as "leadership"

  • Funding affordable, transit-oriented development in California.

    By Citi April 12, 2011 08:10 AM

    In collaboration with the Oakland, California-based Metropolitan Transportation Commission (MTC), several foundations and other financial institutions, Citi has helped capitalize a new $50 million revolving loan fund aimed at creating affordable housing near rail and bus lines in the San Francisco Bay area. Developers will be able to tap the fund to finance the acquisition of land on which to build.

    The MTC estimates that developers will be able to use the fund to purchase 20 to 30 acres in the region, supporting the development of up to 3,800 units of affordable housing in transit-rich areas. The Low Income Investment Fund, a local Community Development Financial Institution (CDFI), is expected to close the first deal this spring to purchase a parking lot in San Francisco's Tenderloin district on which to build a 14-story complex, including affordable family apartments and the area's first full-service grocery store.

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  • Pandit's statement on Colombia-U.S. Free Trade Agreement.

    By Citi April 07, 2011 01:52 PM

    Citigroup CEO Vikram Pandit issued the following statement Wednesday after an accord was reached on the Colombia-U.S. Free Trade Agreement:

    "I commend President Obama and President Santos on the tremendous leadership they've shown in reaching a final agreement on the Colombia-U.S. Free Trade Agreement (FTA). America's financial, manufacturing, services, and farming sectors would benefit greatly from a FTA with Colombia. Expanding trade and investment flows is a key driver of economic growth, and the FTA between our two countries will help to create much-needed jobs as America continues on the road to economic recovery.

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  • Citi recognized as sustainability leader.

    By Citi April 07, 2011 08:00 AM

    The U.S. Environmental Protection Agency (EPA) named Citigroup a 2011 ENERGY STAR® Partner of the Year. Citi is the only bank to have received this prestigious award this year, which honors organizations that have made outstanding contributions to protecting the environment through energy efficiency.

    The company's accomplishments include dozens of efforts focused on making conservation and sustainability integral to the business. In just a few examples, Citi has:

    • Reduced energy consumption by 7.3% and greenhouse gas emissions by 6.3% globally from 2009 levels across a real estate portfolio of 78 million square feet.
    • Earned the ENERGY STAR for 12 facilities in 2010, for a total of 67 facilities since 2008.
    • Reduced U.S. energy consumption 8.5% from 2009 levels on continuing operations -- enough energy to power over 10,000 U.S. homes for a year.
    • Annual energy savings globally in excess of $10 million through operational efficiencies.

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  • Looking forward to the first Wall Street LGBT summit.

    By Citi March 29, 2011 11:03 AM

    Senior leaders from Citi and its peer banks are gearing up for "Out on the Street," the first-ever annual Lesbian, Gay, Bisexual and Transgender (LGBT) Leadership Summit for the Wall Street community on March 30 in New York. Conceived by Todd Sears, diversity leader and former banker, the invitation-only summit will bring together leaders to engage in discussions about essential issues, including culture change, recruitment, client development and driving business impact, that can help make the financial industry a destination for talent and enhance the work environment for the LGBT community.

    The plenary session will cover the evolution of Wall Street into an LGBT-friendly workplace, why fewer than half of employees are "out," and other aspects of the work culture. Break-out panels will feature topics including how strategic partnerships with community organizations can drive new business development and how the changing legal landscape impacts the financial planning needs of LGBTs and their families.

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  • Flaherty named One of Top 10 Women in Sustainability.

    By Citi January 31, 2011 03:36 PM

    Pam Flaherty, President and CEO, Citi Foundation, and Director, Corporate Citizenship, Citi, was named to PINK magazine's Top 10 Women in Sustainability List. Flaherty, who has led the Citi Foundation since 2007, also has been an instrumental force in guiding Citi's sustainability strategy. She told the magazine: "At Citi, the way to achieve real change is not necessarily to own the project or initiative yourself, but to make the case for its implementation and to set strong examples for the business to follow."

    In her role as Director of Corporate Citizenship at Citi, Flaherty leads Citi's Corporate Sustainability team and acts as senior adviser to the Environmental and Social Risk Management unit, the business tasked with assessing and mitigating the environmental and social impacts of client projects Citi may fund. In 2003, Citi was a co-founder of the Equator Principles, a set of industry guidelines developed to manage the environmental and social risks of project financing globally. In 2010, Citi was elected to chair the Equator Principles Financial Institutions Steering Committee. In 2007, Citi announced a 10-year, $50 billion initiative to combat climate change through financing the renewable energy and clean technology sectors as well as greening its own operations. Citi has directed over $24.3 billion in this effort to date.

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  • Randich is Best CIO at AFTAs.

    By Citi December 13, 2010 01:45 PM

    Steve Randich, Chief Information Officer for Citigroup's Institutional Clients Group, was named Best CIO at the sixth annual American Financial Technology Awards (AFTAs) last week in New York City. The AFTAs, hosted by Waters, Buy-Side Technology and Sell-Side Technology magazines, recognize leadership and excellence in information technology (IT) within the investment banking community.

    Randich, who joined Citi five years ago from NASDAQ, oversees the technology for Global Banking, Global Markets, Global Transaction Services, Citi Capital Advisors and the Citi Private Bank. This group includes thousands of employees across more than 160 countries and jurisdictions. In a November profile in Waters magazine, and again at the awards, Randich said he is helped in his role by putting the right talent in the right positions. "This recognition reflects their efforts and accomplishments as much as mine," he added. "I'm proud to accept this award on behalf of the whole team."

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  • CNBC interview: Pandit on Treasury sale.

    By Citi December 08, 2010 05:52 PM

    Citi CEO Vikram Pandit spoke to CNBC about the U.S. Department of Treasury's sale of its remaining stake in Citigroup and milestones achieved by the company this year.

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  • U.S. Treasury exits Citigroup common shares.

    By Citi December 07, 2010 01:58 PM

    Yesterday, the U.S. Department of the Treasury announced the sale of its remaining 2.4 billion shares of Citigroup Inc. common stock. In its announcement, Treasury noted that with this transaction, it has recovered all of the $45 billion invested in Citigroup under the Troubled Asset Relief Program and also realized a gain of more than $12 billion for U.S. taxpayers from its equity investment in the company.

    In a memo to employees, CEO Vikram Pandit said, "We remain deeply grateful to the American people for the assistance we received and are very pleased that we have provided a substantial return on their investment. This milestone is a result of all of your hard work in executing our strategy. In addition to repaying the government and achieving three consecutive profitable quarters, I believe we have put all the elements in place for sustained profitability and are on a path toward responsible growth."

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  • Pandit's statement on Korea-U.S. Free Trade Agreement.

    By Citi December 06, 2010 03:56 PM

    Citigroup CEO Vikram Pandit issued the following statement Friday after an accord was reached on a Korea-U.S. Free Trade Agreement:

    "I applaud President Obama and President Lee on the tremendous leadership they've shown in reaching a final agreement on the Korea-U.S. Free Trade Agreement (FTA). The FTA will bring significant economic benefits to America's financial, manufacturing, services, and farming sectors. Expanding trade and investment flows is a key driver of economic growth, and the FTA between our two countries will help to create much-needed jobs as America continues on the road to economic recovery.

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  • Buiter on European sovereign debt crisis.

    By Citi December 03, 2010 04:38 PM

    The Financial Times sought the perspective of Citi Chief Economist Willem Buiter in its coverage of whether the European Central Bank (ECB) will step up its controversial bond purchase program to help settle the escalating Eurozone crisis. "The involvement of the ECB is likely to rise, despite its statements -- and probably wishes -- to the contrary," he told the paper (registration required).

    Earlier this week, Buiter also shared his views on the potential for sovereign defaults in Europe as well as options for shoring up the debt of Ireland, Spain, Portugal and Greece in the Guardian UK.

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