This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Citi CFO Mark Mason, arguably the highest-profile Black executive at a U.S.-based global systemically important financial institution, will step down from his role in early March, the bank announced Thursday. At that point, Gonzalo Luchetti, now the bank’s head of U.S. personal banking, will become CFO. Mason, meanwhile, will transition to executive vice chair and se ...

Financial Performance - Net loss attributable to common stockholders was $78 million, with a diluted loss per common share of $0.19[31, 82] - Adjusted operating expenses decreased by $178 million, or 28% year-over-year, and $25 million, or 5% quarter-over-quarter[44] - The company forecasts net interest income between $1.7 billion and $1.75 billion for 2025[33] Commercial Banking - New credit commitments increased by 80% to $1.9 billion in Q2'25[18] - New loan originations increased by 57% to $1.2 billion in Q2'25[18] - Specialized Industries loan originations increased by 91% to $624 million[18] - Corporate/Regional Banking loan originations increased by over 50% to $186 million[18] - Total Private Bank deposits increased by $2.0 billion since March 31, 2024, reaching $17.7 billion[18] Balance Sheet & Asset Quality - The CET1 ratio is 12.3%[46] - Deposits decreased by $4.2 billion, or 5.6% quarter-over-quarter, to $69.7 billion[50, 54] - Brokered deposits decreased by $4.1 billion, or 43.1% year-to-date[54] - Record CRE payoffs at par of $1.5 billion, with 45% of the payoffs from substandard loans in the second quarter[55]