On February 20, Citigroup's CEO announced in a memo that the company will no longer mandate a diverse slate of candidates for job interviews. CEO Jane Fraser stated that the bank will no longer set "aspirational representation goals" beyond what local law requires. Furthermore, the "Diversity, Equity and Inclusion and Talent Management" team will be rebranded as "Talent Management and Engagement".

Since President Donald Trump took office, there has been a trend of scaling back diversity, equity, and inclusion (DEI) programs in both government and the private sector. Consequently, several major companies, including Goldman Sachs and JPMorgan Chase, have adjusted their diversity commitments.

Prior to these changes, Wall Street has faced ongoing challenges with diversity. Despite this, even before Trump's presidency, some large corporations had begun to minimize their DEI initiatives.

Fraser acknowledged the rapidly changing environment, emphasizing the importance of incorporating a variety of perspectives in hiring decisions. She highlighted that Citigroup will continue to promote this best practice.