Key Points:
- Mason exits as Citi CFO in 2026
- Luchetti named new CFO
- Citi restructures U.S. consumer units
Citigroup has confirmed a significant leadership transition as Chief Financial Officer Mark Mason prepares to step down from his role in March 2026. Mason, who has served as CFO since 2019 and built a two-decade career at the bank, will shift into the temporary role of Executive Vice Chair and Senior Executive Advisor during the transition period before leaving the company later in the year.
His departure marks one of the most notable leadership shifts at the bank in recent years. Mark Mason has been a key figure in Citi’s financial management, helping the institution navigate regulatory pressures, large-scale restructuring efforts, and global economic volatility. Under his oversight, the bank strengthened its financial discipline, advanced its risk-control systems, and executed several strategic initiatives aimed at simplifying operations.
Citi’s leadership acknowledged Mark Mason’s contributions, highlighting his role in stabilising the bank through challenging economic cycles and supporting long-term planning. His exit comes at a time when Citi is accelerating its strategic transformation, restructuring divisions, and pushing for greater operational efficiency across global markets.
Gonzalo Luchetti Set to Become CFO
Stepping into the CFO role will be Gonzalo Luchetti, who currently heads Citi’s U.S. Personal Banking division. Luchetti is expected to assume the position after Citi completes its year-end 2025 financial reporting.
Luchetti joined Citi in 2006 and has since built a strong leadership track record across multiple business lines. His recent tenure leading U.S. Personal Banking has been marked by consistent revenue growth, modernized branch infrastructure, and notable improvements in risk systems and returns. He has been credited with elevating the performance of Citi’s consumer banking portfolio despite intense competition and a shifting economic environment.
Citi’s leadership emphasised that Luchetti brings a strategic, forward-looking mindset well-suited for the bank’s ongoing restructuring efforts. As CFO, he will play a central role in shaping Citi’s long-term financial strategy, reporting structure, and capital optimisation plans. The appointment aligns with the bank’s broader push toward streamlined operations and enhanced accountability across major business units.
Citi Restructures U.S. Consumer Business
Alongside the CFO transition, Citi is undertaking a major realignment of its U.S. consumer operations. As part of this restructuring, Citi’s traditional Retail Banking segment, including Everyday Banking, Citi Priority, Citigold, and Citigold Private Client, will be folded into the Wealth Management division. The move aims to consolidate affluent and high-net-worth client services under a unified leadership structure and strengthen Citi’s competitive position in the wealth market.
In addition, the bank is separating its Branded Cards and Retail Services units into a standalone division called “U.S. Consumer Cards.” The new cards business will operate independently to sharpen focus, accelerate innovation, and drive stronger growth in an increasingly digital-first credit environment.
Citi views these structural changes as essential to improving operational synergy, increasing efficiency, and aligning its U.S. consumer portfolio with long-term profitability goals. The adjustments also come ahead of the bank’s Investor Day scheduled for May, where leadership is expected to outline detailed performance targets and strategic milestones for the coming years.
