Michael Corbat

Though he acknowledged working remotely has definite advantages, CEO Michael Corbat says “our goal is to get our employees back."

Investors are looking past signs of weakness and toward an eventual recovery, but top executives at BlackRock, Citigroup, Goldman Sachs and other financial firms remain cautious as many cities and states remain in partial lockdown to slow the spread of the coronavirus.

The memo from CEO Michael Corbat acknowledged the challenges many employees have faced working remotely during the coronavirus outbreak while taking care of family members and home-schooling their children.

"One of the advantages is that we can hear from shareholders in faraway places," John Dugan said at Tuesday's annual meeting, which was held entirely online as most of the country remains on lockdown to help stop the spread of the coronavirus.

Net income fell 46% in the first quarter as the company added nearly $5 billion to its loss reserves in anticipation of a wave of loan defaults.

Modernizing the bank’s app and digital-banking experience won’t necessarily result in Citigroup needing fewer people in its retail bank, CEO Michael Corbat said.

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Citigroup promoted Jane Fraser to president, its second-highest post, making her a likely candidate to succeed CEO Michael Corbat and someday become the first woman to run one of the largest U.S. banks.

CEO Michael Corbat said he “wouldn’t rule out” building branches to keep the momentum going.

The series of print, digital and billboard ads uses children of Citigroup employees to draw attention to the bank's own efforts to promote women to senior roles.

The awards gala was a who's who in banking, both at the podium and in the audience. The FHFA settles the sexual harassment complaint involving Mel Watt. And an OCC veteran talks about her career.

Speakers at the Most Powerful Women in Banking and Finance gala stressed the need to use their power to help the next generation of women as well as enlist others in seeking gender parity.

Citigroup CEO Michael Corbat said that unconscious bias has contributed to inequality in the workplace despite a decades-long effort by many companies to promote women.

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Citigroup has set measurable goals for increasing representation of women and U.S. minorities in senior, higher-paying roles and CEO Michael Corbat is urging other financial firms to follow suit.

Citigroup quietly boosted its minimum wage to $15 an hour in June, joining competitors in awarding raises to rank-and-file staff.

The company could rein in deposit costs, cut operational expenses and buy back more shares in anticipation of a Federal Reserve rate reduction. Other banks — especially big ones — could do the same.

Noninterest expenses fell 2% to $10.5 billion — almost $100 million lower than the average estimate from analysts.

Once a poster child for corporate wrongdoing, Citi has bolstered its reputation by taking bold stands on polarizing social issues, such as climate change and gun control, and declaring its commitment to move more women and minorities into managerial roles. Here's how it aims to do even better.

A burgeoning trade war, the U.K.’s planned exit from the European Union and escalating tension between the U.S. and Iran have weighed on market sentiment in recent weeks, Citigroup CEO Michael Corbat said Wednesday.