Citigroup is encouraging its US-based employees to take a day off on Friday 19 June to commemorate the end of slavery in the country, as large financial services organisations take a harder look at racial diversity in light of the Black Lives Matter movement.

In a memo seen by Financial News, the US investment bank’s chief executive Mike Corbat told employees that they should take a “personal day” on 19 June for “Juneteenth”. The day commemorates the emancipation of African Americans on the same date in 1865. While it is observed, the day is not yet a national holiday. In recent days, Nike, Twitter and Square have all reportedly offered, or are planning to offer, the day as a paid holiday.