Morgan Stanley was also among 43 banks worldwide to sign on as initial members of the Net-Zero Banking Alliance. Convened by the United Nations, the group has pledged to help clients in carbon-intensive industries — including transportation, mining and agriculture — reduce their reliance on fossil fuels.

It is the largest global treasury bank so far to implement Mastercard’s direct debit service.

The New York-based Citigroup is pushing ahead to set up new investment banking and trading operations in China after announcing it would be exiting retail banking in the world’s second-largest economy.

Citigroup, the world’s largest credit card issuer, is looking to jump-start efforts to acquire new cardholders after the pandemic caused it to curtail such activities last year.

The company will exit retail banking in 13 markets across Asia, Europe and elsewhere after a big drop in global consumer banking revenue. However, it far exceeded analysts' earnings estimates from dealmaking for special-purpose acquisition companies and other Wall Street operations.

JPMorgan Chase set a goal to finance $2.5 trillion in initiatives that combat climate change and advance sustainable development over the next 10 years, while Citigroup said it would back $1 trillion of similar efforts by 2030.

Liu's promotion is one of a series of moves the company is making in its newly reorganized wealth management unit.

The banking giant is using technology to empower corporate customers to keep tabs on and resolve issues with cross-border payments.

Revlon lenders that received more than half a billion dollars in accidental payments from Citigroup are asking a judge to free up the money he’s already ruled is theirs to keep.

Citigroup hired Ken Blanco, the director of the Financial Crimes Enforcement Network, as chief compliance officer of its newly created financial crimes unit.

The move is part of a broader push at Citigroup to reduce carbon emissions. Jane Fraser, who took over as CEO on March 1, vowed on her first day that the bank would achieve net-zero greenhouse gas emissions in its financing activities by 2050.

Brown, who was most recently Goldman's chief diversity officer, will join Citigroup in the coming months as chief diversity, equity and inclusion officer and global head of talent.

The Rainforest Action Network says the 2020 decline stemmed more from weak energy demand during the pandemic than banks’ pledge to reduce financing to firms that contribute to climate change.

Bank of America, Wells Fargo and JPMorgan Chase also received high marks for transparency in reporting how they are paying women and employees of color, but Goldman Sachs, KeyCorp and Citizens Financial Group still have work to do, according to the advocacy investor firms Arjuna Capital and Proxy Impact.

Citigroup Chief Executive Jane Fraser has barred internal video calls on Fridays and encouraged vacations in an effort to combat workplace malaise brought on by the coronavirus pandemic.

Citigroup’s dealmakers have been keeping busy with family offices looking to get in on the blank-check frenzy. Now the lender wants to bring its private bank a piece of the action.

Michael Moeser, senior analyst at PaymentsSource, talks to Nikki Darden, head of global marketing integration at Citigroup; and Cheryl Guerin, executive vice president of North America marketing and communications at Mastercard, about the True Name feature on their cards.

Women now account for half of Citigroup's 16-person board, the most of the 20 largest global banks, after Michael Corbat stepped down as CEO and was replaced by Jane Fraser.

There’s a theory in corporate America that women in positions of power don’t help other women. Citigroup Chief Executive Jane Fraser doesn’t buy it.

Citigroup is punishing investment firms that kept payments the bank accidentally sent to Revlon lenders by blocking them from certain new debt offerings led by the bank, according to people with knowledge of the matter.