Citi’s Statement on FT Reporting from November 26, 2024

The FT's reporting about promotions at Citi is false. We provided the following statement:

Citi made firmwide changes to our organizational structure earlier this year, which included promotions and other role changes for a substantial number of colleagues, and managers have received guidance to take that effort into consideration at year end. That said, promotions are a key part of our talent strategy and while our year-end process is still underway, the notion that we will see a significant decline in promotions across the bank or other releveling is false.