Visiting our markets this year has only deepened my admiration for the caliber and diversity of talent within our firm. As the world's most global bank, diversity is our strength and a strategic priority for me and my leadership team.
These are not just words. We set goals, we prioritize action and we are transparent about results. That's why I'm excited to announce we are expanding Citi's diversity representation goals to include additional markets and underrepresented groups.
Here's what we have planned:
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Self-identification data was critical to developing these new goals. As more of our colleagues choose to participate in the self-identification process, we will be able to use that additional data to refine our goals.
Our new goals follow our success exceeding the three-year goals we set in 2018 to increase the percentages of women in the firm globally and Black talent in the U.S. We have also continued our leadership in pay equity, and we celebrated the promotion of one of the largest and most diverse managing director classes in recent years. In addition, we have already invested more than $1.1 billion in strategic initiatives to help close the racial wealth gap in the U.S., as part of Action for Racial Equity, which this month marks its two-year anniversary.
Creating a culture defined by inclusion and equity is an everyday job that takes effort from all of us. We see this as a long-term strategy, not a short-term objective. We will continue embedding diverse representation and equity in our business strategy as well as our executive scorecards so that it's standard practice for our colleagues, clients and customers. We will continue making it a priority and challenging ourselves to do more because it's necessary for everyone in the firm to succeed.