"The bank reported Q4 net income of $2.5 billion, or $1.19 per diluted share, on $19.9 billion of revenue, down from $2.9 billion, or $1.34 per share, on $19.5 billion a year earlier. On a reported basis (including a Russia-related notable item), EPS of $1.19 and revenue of $19.9 billion topped FactSet estimates of $1.02 and $19.6 billion. On an adjusted basis (excluding the notable item), EPS was $1.81 on $21.0 billion of revenue, ahead of consensus EPS of $1.65 and revenue of $20.9 billion."
"The bank announced in November that he will step down in early March. Mason, who joined Citi in 2001 and became CFO in 2019, takes over as executive vice chairman and senior executive advisor to chairwoman and CEO Jane Fraser, while Gonzalo Luchetti, head of U.S. personal banking, will succeed him as CFO. I previously reported that his long-term ambition is to become a CEO, according to people familiar with the matter."
Citi posted Q4 net income of $2.5 billion, or $1.19 per diluted share, on $19.9 billion of revenue, compared with $2.9 billion and $19.5 billion a year earlier. Reported results including a Russia-related notable item topped FactSet estimates, and adjusted results excluding that item showed EPS of $1.81 on $21.0 billion of revenue, ahead of consensus. Mark Mason will step down as CFO in early March and transition to executive vice chairman and senior executive advisor to CEO Jane Fraser, with Gonzalo Luchetti named CFO after driving 13 consecutive quarters of positive operating leverage in U.S. personal banking. Citi plans to move its retail bank into the wealth business and run both card businesses together under Pam Habner, with Mason supporting the May 7 investor day and other strategic initiatives.
Read at Fortune
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