On the surface, it may seem at times Citi has the progressive market cornered. This month, it became the first Wall Street bank to elevate a woman to CEO. In 2018, it became the first large U.S.-based bank to commit to reporting raw data on the pay gap between the men and women it employs.
But if Citi hears footsteps, they may be coming from JPMorgan Chase. Both banks made announcements Friday that looked to add credibility to their diversity efforts. Citi poached its next chief diversity, equity and inclusion officer, Erika Irish Brown, from Goldman Sachs. JPMorgan announced it plans to hire an extra 300 Black and Latinx wealth advisers by 2025.