Citigroup taking steps to close gender, racial pay gaps

New York

CITIGROUP said it would measure, publish and take steps to close the gaps between what it pays men and women in three countries and for US minorities.

The move follows a shareholder proposal filed by Boston-based Arjuna Capital and is the first of its kind by a big US bank. As well as the US, Citigroup also studied pay in the UK - where such reporting is now mandatory - and Germany.