‘Remarkable’ and ‘exemplary’ are just two of the glowing terms Citi used as it put forward Andrew Pitt for its role model. Acutely aware that the pace of change for diversity and inclusion can’t happen without male advocates in the most senior leadership roles, Women in Banking & Finance is delighted to be able to celebrate Andrew’s achievements.
After over 25 years with the global bank, Andrew now heads up research activities for Citi’s Institutional Clients Group globally and, in addition to launching the Citi Global Perspectives & Solutions (GPS) research platform, he has used his position to keep gender economics at the heart of the bank’s research programme through a regular flow of new publications and related events.
The GPS programme is something that Andrew can rightly be very proud of given its aims to address the greatest challenges and opportunities of the 21st century through publically-available research and based on regular collaboration with outside authors and experts to keep the conversations current. And while other banks will cite valuable research efforts, Andrew has made sure that Citi is unique in spearheading a major research programme on gender equality. The programme has been incredibly successful, given it has presented its findings and conclusions to various governments, think tanks and the United Nations, as well as to multiple corporate boards. It’s worth noting that each report is a major collaborative undertaking, addressing a specific research question with a clear plan for delivery and dissemination.
The current research that Andrew is leading concentrates on the business case for supporting female entrepreneurs and, most recently in 2020, Andrew led the publication and marketing of a major report with Plan International (a global development and humanitarian organisation that advances children’s rights and equality for girls) focussed on the absolute imperative of investing in the advancement and rights of adolescent girls.
Andrew’s track record also shows that he has made multiple practical contributions to gender equality through workplace initiatives and promotion metrics, among his many managerial accomplishments. Having been a long-term supporter of the Citi Women’s affinity network, he is currently a co-Chair of Citi Women in the UK where, in particular, he helps to create innovative events for the network’s members.
Within Citi Research, Andrew is also responsible for the development of a globally-consistent employee engagement programme (“Employer of Choice”), part of which has seen the setting of stretch goals around hiring, mentoring and supporting female staff. The programme went further still as it included widespread coaching for senior employees in key areas such as understanding unconscious bias.
And Andrew practices what he preaches, having seen the proportion of females mid-way through their careers in Citi’s research teams grow from below 30% when he became global head to near parity as of now. Through this, the flow of female promotions to director and managing director positions has risen too.
Andrew has also completed a major survey of gender equality in the investment research industry as a critical management information tool by building a profile from public sources on over 4,000 investment analysts worldwide – information which is updated annually and used as a recruitment and benchmarking tool.
Outside Citi, Andrew has been the principal external supporter of the Women’s Equality & Inequality research programme at Oxford University, which seeks to address social mobility and eradicate educational and economic inequality for women around the world.
These initiatives and his constant advocacy for diversity were among the key reasons why Citi selected him as their role model and why Women in Banking & Finance is delighted to support his place among our 2021 roll call.
And for those who would like to really understand the incredibly important contribution needed by men to affect change with regard to diversity and inclusion, please read Andrew’s own words: “Gender equality will only be fully realised with the support and increased mutual understanding of all parties in society. Men need to be self-reflective on their own privilege and appropriately humble in approach as good prerequisites to becoming true male allies for gender equality.
“Men also need to invest the time to properly understand the challenges and barriers faced not only by women, but also by minorities. Some of this can be innate, but a lot comes from reading, observation and, most important, listening to the stories of female and diverse colleagues and friends. And then action is required through advocacy, active sponsorship of female colleagues, and in not being afraid to take brave decisions or to call out inappropriate behaviour when it occurs.”