Citigroup says some of the companies that came together to form the financial giant likely benefitted from slavery in the 1800’s. Citigroup’s acknowledgement on Thursday came at a time when numerous institutions are re-examining their historic roots and the roles they played in slavery in the U.S. In research conducted last year, Citi found that […]
Audio
Citigroup Acknowledges Likely Benefit From Slavery In 1800’s
Citigroup says some of the companies that came together to form the financial giant likely benefitted from slavery in the 1800’s. Citigroup’s acknowledgement on Thursday came at a time when numerous institutions are re-examining their historic roots and the roles they played in slavery in the U.S. In research conducted last year, Citi found that none of its predecessor companies directly purchased, sold, or held slaves. But the research did find that some of predecessor entities likely “indirectly profited” from the institution of slavery. Citi traces its founding back to 1812 and creation of the City Bank of New York.