Michael Corbat

Investors are looking past signs of weakness and toward an eventual recovery, but top executives at BlackRock, Citigroup, Goldman Sachs and other financial firms remain cautious as many cities and states remain in partial lockdown to slow the spread of the coronavirus.

"One of the advantages is that we can hear from shareholders in faraway places," John Dugan said at Tuesday's annual meeting, which was held entirely online as most of the country remains on lockdown to help stop the spread of the coronavirus.

Modernizing the bank’s app and digital-banking experience won’t necessarily result in Citigroup needing fewer people in its retail bank, CEO Michael Corbat said.

Citigroup promoted Jane Fraser to president, its second-highest post, making her a likely candidate to succeed CEO Michael Corbat and someday become the first woman to run one of the largest U.S. banks.

The series of print, digital and billboard ads uses children of Citigroup employees to draw attention to the bank's own efforts to promote women to senior roles.