News Summary

• Citi is the latest company outside Madison Avenue to launch an advertising business.
• The bank is creating a new unit called Citi Commerce Media, which will let brands advertise to its more than 70 million customers.
• Citi will target ads to people on its own app and website, as well as on other properties, based on their spending histories.
• It is an example of the fast-growing field of financial media networks, in which firms use first-party customer data to enable advertisers to target audiences.