The Streets: Black employees at Citigroup decline for 8th straight year
The Streets, June 1, 2018: Black employees at Citigroup decline for 8th straight year
Citigroup isn’t the only bank having problems retaining black employees. According to their annual reports, both Bank of America and JPMorgan Chase also have seen declines in the share of African Americans they employed since 2012. Neither have released their EEO-1 data for 2017 year.
“We are concerned about this trend throughout the financial services industry,” said Stella Adams, Chief of Equity and Inclusion at National Community Reinvestment Coalition, an organization that works to promote diversity in banking, housing and business. “Many minority borrowers are looking for trusted financial advisors that reflect the diversity of the marketplace. A recent report from the GAO shows that the industry is underperforming based upon the talent available in the workforce.”