Citibank 2010 Annual Report Download - page 9

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We are growing in digital and social media — channels that drive
meaningful client connections and help us learn what they want
from their bank.
7) Attract, develop and retain the best talent. Here we have
another built-in advantage. Citi’s global presence, long history,
iconic brand, and breadth and depth of relationships and
products offer employees — actual and potential — an
unequaled chance to hone their skills, learn new markets and
work in a variety of businesses. The best talent in the industry
knows this and is attracted to come and work for us. We will
build on that advantage with world-class learning and
development offerings that support employees in their current
jobs and prepare them for future roles. We also are focusing on
our on-campus recruiting efforts to share the best of what Citi
can offer and engage the interest and commitment of the most
capable students around the world. And we are developing
future leaders, building our pipeline of leadership talent to
execute our strategy and fuel our growth in the future. The
foundation we are laying today will help us retain our edge
years down the road.
8) Promote financial inclusion. Part of the mission of any
financial institution should be to promote financial inclusion —
and it is for us. The Citi Foundation partners with and supports
a variety of non-profit organizations that work to bring financial
services within reach of the world’s 2.5 billion unbanked. We
also work through our business lines to promote financial
inclusion through various for-profit initiatives. We will allocate
greater time and resources to mapping our strategy and
execution plans to become the leading financial institution in
promoting financial inclusion.
We are in the process of making carefully planned, long-term
investments to support these priorities — and to attract new
customers, provide exceptional service, deepen client
relationships, and create new and innovative products and
services. These investments include adding new branches,
ATMs and personal bankers in our priority cities around the
world. We are upgrading our technology platforms in both our
consumer and institutional businesses to improve the customer
experience and create new efficiencies. We are hiring
corporate, investment and private bankers to help our clients
seize new opportunities. In our GTS business, we are expanding
into more markets and creating new products. We are investing
in our people across the board by implementing more training
and development programs. And we are increasing our
marketing efforts globally.
In some cases, these investments will require upfront costs,
with returns realized only over time. We also will incur new
expenses as we work to comply with regulatory changes. Some
of these expenditures will be funded through re-engineering
projects, cost savings and other efficiencies. But the goal for
every dollar we spend is to maintain our momentum and
competitive edge, capture more market share and grow
organically in priority markets. We are working hard and smart
to position our company for the future.
Conclusion
We had a good year. Our task for the future is to ensure that
we have even better years to come — by serving clients,
building value for all our stakeholders and practicing
Responsible Finance.
I know we can do it because of what I already have seen our
people accomplish. Their tireless work helped us get through
the crisis. Moving Citi into the next phase will not be any easier.
The best players in any business always expect the competition
to be fierce and the challenges to be daunting. But our people
are up to the task, and I thank them for their hard work
throughout last year and all the effort that I know is to come.
I also want to thank our Directors for their support and trust
and for their continuing guidance.
I want, once again, to thank the American taxpayers for their
steadfast support during and after the financial crisis.
Accepting their assistance was not something we ever
envisioned having to do, and it certainly was not something we
wanted to do. But it enabled us to continue to provide our
millions of retail, corporate and public sector clients with
uninterrupted service and helped to stabilize the financial
system. I’m proud that Citi was able to provide the taxpayers
with a substantial return on their investment. We paid the
money back, but our debt of gratitude remains.
Finally, I want to thank you — my fellow shareholders — for your
support as well. We know full well that you can choose where to
invest your money. That you chose to trust us with your
hard-earned savings is the most profound statement of support
any of us working for this company could imagine. Our mission
every day is to earn, and to deserve, your continued trust.
Sincerely,
Vikram S. Pandit
Chief Executive Officer, Citigroup Inc.