Citi CEO Michael Corbat just sent a memo to all staff in response to President Donald Trump’s immigration ban.
Trump on Friday signed an executive order barring people from seven majority-Muslim countries — Iraq, Iran, Libya, Somalia, Sudan, Syria, and Yemen — from entering the US. The order originally included US green-card holders, but the White House later exempted them from the ban.
“We are concerned about the message the executive order sends,” Corbat wrote. He said the firm is advising and supporting colleagues who could be affected.
“We encourage the leaders of the United States to find the right balance between protecting the country and its longstanding role as an open and welcoming society.”
Here is the memo:
Since the weekend, we have been reviewing the executive order on immigration, as well as statements by administration officials, to assess its impact. As a U.S. company and the world’s most global financial institution, we are concerned about the message the executive order sends, as well as the impact immigration policies could have on our ability to serve our clients and contribute to growth. We have been advising colleagues who could be affected and will continue to support them and their families.
We are proud of Citi’s diversity and the fact that we hail from over 100 countries. We encourage the leaders of the United States to find the right balance between protecting the country and its longstanding role as an open and welcoming society.
More to come…
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