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On February 14, 2019, the Board of Directors of Citigroup Inc. (Citi) appointed Mark A.L. Mason to be Citi Chief Financial Officer, effective February 23, 2019, which is the day following the anticipated filing date of Citi’s Annual Report on Form 10-K for the fiscal year ending December 31, 2018. Mr. Mason will replace John C. Gerspach, who will retire as Citi Chief Financial Officer effective February 22, 2019, and will retire from Citi employment effective March 1, 2019. The Personnel and Compensation Committee of the Citi Board of Directors (the Compensation Committee) set Mr. Mason’s base salary rate at $500,000 per year effective February 23, 2019, consistent with the base salary rates of the executive officers who report to Citi CEO Michael L. Corbat.

Mr. Mason, age 49, is the executive responsible for Citi’s Comprehensive Capital Analysis and Review (CCAR) submission process and served as Chief Financial Officer of Citi’s Institutional Clients Group (ICG) from September 2014 through January 2019. He joined Citi in 2001 and has held several senior operational, strategic, and financial executive positions, including serving as CEO of Citi Holdings from December 2011 through May 2013. He also served as CEO of Citi Private Bank from June 2013 through September 2014.

As reported in 8-K SEC Report