Citi names Gonzalo Luchetti as next CFO, restructures US banking units

Citigroup Inc. announced that Gonzalo Luchetti will become chief financial officer in March 2026, succeeding Mark Mason, who will transition to executive vice chair and senior executive advisor to CEO Jane Fraser.

Mason will remain CFO until early March 2026. He joined Citi in 2001 and has served as CFO since 2019. Mason said he intends to pursue opportunities outside Citi by the end of 2026.

Luchetti has served as head of U.S. Personal Banking since 2021 and joined Citi in 2006. Under his leadership, the U.S. Personal Banking business delivered a 14.5% return on tangible common equity in the third quarter and 13% year-to-date, according to the company.

The bank also announced structural changes to its U.S. consumer banking operations. Retail Banking and U.S. Citigold will be integrated within the Wealth business under Kate Luft, who will become head of U.S. Retail Banking and Citigold, reporting to Andy Sieg.

Citi's Branded Cards and Retail Services businesses will combine to form U.S. Consumer Cards as a standalone business. Pam Habner, current head of Branded Cards and Lending, will lead the new unit and join the executive management team, reporting directly to Fraser.

The U.S. Consumer Cards business serves more than 70 million customers and includes partnerships with American Airlines and Costco. Habner joined Citi in 2020 after working at JPMorgan Chase and American Express.

Fraser stated the changes position the firm ahead of its upcoming Investor Day scheduled for May 7, 2026. The company said it expects to meet its 2026 return target.

Citi will file Form 8-K current reports regarding these leadership changes, according to the announcement.

You May Also Be Interested In

• Baxter names John Rogers as CFO, effective October 2026
• Datavault AI agrees to acquire Wyoming bank BankWyse
• FDA approves modular PMA pathway for Femasys FemBloc device