Most Powerful Women in Finance for 2020: Julie Monaco, Citigroup

Global Head, Public Sector Coverage

As the global head of public sector coverage, Julie Monaco oversees a team at Citigroup’s investment bank that provides a robust portfolio of financial services for state-run enterprises in 160 countries. It’s a role in which she works with heads of state, such as the president of Kazakhstan, in an effort to bring foreign investment to their countries, and represents Citi on global councils, such as the World Economic Forum’s Partnership Against Corruption Initiative.

An active member of the Citi Women’s Network and Citi’s Corporate and Investment Bank’s Diversity Committee, Monaco also continues to expand her leadership in matters of workplace equity and inclusion. Late last year at a panel discussion, “The Power of Public-Private Partnerships to Drive Gender Equality” at George Washington University, she called for finding strategies to work together to tackle the problem of gender inequality. “The future of our global economy depends on more people participating in it,” she said.

Closing the gender labor gap could add $28 trillion to the global gross domestic product by 2025, she argued. “It is more than a social or ethical issue. It is an economic issue.”

Monaco also spoke about Citi’s focus on low-income communities and underserved markets. She said the company last year provided $6 billion in loans for affordable housing projects in close to 200 cities. That made it the leading affordable housing lender in the country for the 10th straight year.

Most recently Monaco has been providing thought leadership on the difficulties emerging markets face amid the pandemic. She said she hopes policymakers start to better manage the economic challenges they face. “This is not a financial crisis,” she said, “it is a health crisis that went to the real economy but will be a financial crisis if we do not have the right responses.”

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