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Citi earns a seat at the Billion Dollar Roundtable

August 10, 2023
Mark Mason, Chief Financial Officer and Mike Whitaker, Head of Enterprise Operations and Technology

At Citi, we firmly believe that a diverse business environment fosters creativity, empathy and adaptability, and improves our ability to deliver excellence to our customers around the world, as well as returns for our investors.  

That’s why, for nearly 50 years, Citi’s Supplier Diversity Program has actively sought out and empowered suppliers that reflect the rich tapestry of our global community. Our supplier base represents all dimensions of diversity, including veterans, individuals with disabilities, women, racial and ethnic minorities, those who identify as LGBTQIA+ and other underrepresented groups.  

As a result of this commitment to supplier diversity, today we are proud to share that Citi joins a limited group of fewer than 40 organizations named to the Billion Dollar Roundtable (BDR), a list of U.S.-based corporations that voluntarily spend $1 billion or more annually with certified diverse suppliers. BDR is a nonprofit organization that promotes supplier diversity excellence and best practices.  

In 2017, we committed to work on best practices and increase our spend with women globally, with a goal of reaching $1 billion in certified diverse spend by 2023. Applying our general sourcing criteria to supplier selection, our spending increased from $875 million in 2020 to $1.1 billion in 2021 and $1.3 billion in 2022. Looking forward, we are well-positioned to reach over $1 billion again in 2023. 

We believe that supplier diversity is not just a responsibility but a strategic advantage. We have seen firsthand the substantial impact of these initiatives on our firm, our clients and customers and the communities in which we operate. By forging relationships with diverse suppliers, we have not only expanded our network but also unleashed a wave of fresh ideas and resilience in our supply chain, which you can read more about.  

It's not only our firm that benefits from these relationships — they also help unlock opportunities for diverse businesses owners. We provide suppliers with access to larger markets, expanding their networks and creating jobs in their communities. The collective impact drives positive change globally, including economic opportunities, social mobility and enhanced supply chain resilience.  

While we’ve earned a seat at the Billion Dollar Roundtable, there is always room to do more, and we look forward to doing just that. We will keep up the momentum and partnership with our diverse supplier base moving forward. Together, we can build a future where every individual has equal opportunity to succeed and where economic mobility is intrinsically linked to progress for all. 

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