Citigroup's Chief Financial Officer, Mark Mason, will step down from his role in early March and leave the bank next year. Mason, who has served as CFO since 2019, will transition to an executive vice chair and senior executive advisor role to Chair and CEO Jane Fraser starting in the spring.
He plans to leave the bank before the end of next year to pursue leadership opportunities outside of Citi. Gonzalo Luchetti has been named as Mason's successor.
Luchetti, currently the head of US Personal Banking, will assume the CFO position after the company files its year-end reports for 2025 in March. Luchetti joined Citi in 2021 and has been credited with driving business growth, modernizing the branch network, and strengthening risk and controls during his tenure.
He previously worked at JPMorgan Chase and Bain & Company. CEO Jane Fraser stated that this leadership transition is well-timed, positioning the next generation of leaders ahead of the bank's investor day in May, where future growth plans will be outlined.
The announcement of this management reshuffle was made on Thursday, shortly after the market close, with Citi shares trading at $97.63.
