Citigroup has a three-year plan to reverse its falling diversity

Crain's New York Business reports:

After years of scant progress on diversity measures, Citigroup Inc. has created hard targets for raising the percentages of women and African Americans in management positions by 2021, according to an internal memo signed by Chief Executive Officer Michael Corbat and the Executive Management Team.

Black employees in the U.S. will make up 8 percent of managers in roles from assistant vice president to managing directors within three years, up from 6 percent today. The bank also plans to boost the share of women in those management positions globally to 40 percent from 37 percent.

Citigroup’s top leaders will be measured on the progress of this diversity goal on their scorecard, as they are with the firm’s other business priorities, according to Corbat’s memo. Among those leaders to be held accountable will be the bank’s 18-person operating committee, which currently includes three women and no African Americans.

Has Citigroup heard of the 1964 Civil Rights Act? Expect lawsuits over this.