jobsinthemoney.com recently spoke with Patricia David, managing director and global head of diversity/talent and employee programs for the corporate and investment banking division of Citigroup. David is responsible for overseeing, developing and implementing the diversity strategy for more than 45,000 employees around the world.
How would you outline your division's strategy in diversity?
David: There are four components to our diversity strategy - management accountability, attracting talent, workforce development and work environment. One of the most important things to consider is the environment or the culture. When we talk about diversity, what we want is an environment where all employees feel like they are included and can achieve to their greatest potential, regardless of gender or ethnicity or where they went to school.
How about your workforce-development strategy?
David: One of the things that we did notice was that women and people of color were not being promoted as fast as others. For some, it might have been that they didn't have the requisite ability to network - the soft or the non-technical skills needed in this business. We understood the need for a mentor or a key sponsor. For other employees, there was a need for increased confidence, a greater sense of independence, and a need for improvement on their global perspective. We've put specific programs in place for skills training and on things such as political savvy, communicating for impact, financial philosophy, budget preparedness and presentation skills.
Why aren't more women and minorities considering a career in the investment banking field?
David: We need to understand that many people feel uncomfortable, especially when they look around and don't see themselves represented in the industry. I am an African-American female, and when I went to college, it certainly wasn't my intention to go to Wall Street. My dad was a blue-collar worker, and the rest was luck. I was happy to get a job out of college. Many successful women and minorities are choosing to open up their own businesses instead, since they might view this as a difficult industry to be in. We also find ourselves competing for top talent with other industries outside of investment banking.
How do you respond to those in the industry who don't see diversity as a top priority?
David: At Citigroup, the ultimate goal is to have more women and minorities in leadership positions and to sustain that process to the point where my department doesn't need to exist. Our marketplace is rapidly changing, and the workforce is becoming much more diverse. We have to recognize the customer base is changing as well, and we need to have people to create products in our team with a specific experience. Additionally, people want to see that our employees look like them, and we need to recognize that.
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