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CFO Transition · Citigroup · Executive Change · Leadership
Citigroup announced a significant leadership change, with Chief Financial Officer Mark Mason stepping down in early March 2025 and planning to leave the bank by year-end to pursue external CEO aspirations.
Mason, who has served as CFO since 2019, will transition to an executive vice chair role temporarily. Gonzalo Luchetti, currently the head of US personal banking, has been named as his successor, taking the CFO reins in March 2025 after the firm files its 2025 year-end reports.
CEO Jane Fraser lauded Mason's contributions and highlighted Luchetti's track record of business growth and strengthening risk controls in US personal banking. Fraser emphasized that this leadership evolution positions Citi with its "next generation of leaders" ahead of its May investor day, where the bank will outline plans to "further grow our returns." This reshuffle aligns with Fraser's ongoing turnaround strategy to streamline operations and reduce costs, following her recent $25 million bonus and stock options.
Citi shares closed at $97.63 on the day of the announcement.