Citi Group has promoted a total of 344 executives to the role of managing directors, marking an increase from last year’s 304 promotions. The newly appointed MDs, representing one of the largest cohorts in Citi’s history, are based across 29 countries, reflecting the firm’s commitment to global diversity.

“This year, 344 of our colleagues, based in 29 countries, have achieved the MD milestone, up from 304 colleagues last year. This represents one of the largest MD cohorts in our firm’s history, and once again reflects the global diversity of Citi and the colleagues, communities and clients we serve,” reads a memo sent by the Executive Management Team.

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The memo further praised the newly promoted MDs for their instrumental roles in driving progress on Citi’s transformation and regulatory efforts, stating, “They continue to build our credibility with key stakeholders and are relentless about driving stronger business performance. They deliver excellence to our clients and help them navigate a dynamic, ever-changing global environment. They’ve set the tone for their teams and are helping us shape a bright future for the firm,” the memo sent to all employees reads.