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Search resuls for: "Mark Mason"


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☆ Big U.S. banks continue to add jobs as Goldman Sachs cuts staff
  + stars: | 2023-01-14 | by ( ) www.cnbc.com   time to read: +3 min
The chief financial officers of the two biggest U.S. banks said they would hire selectively despite waning economic growth. JPMorgan's Chief Financial Officer Jeremy Barnum said the bank is still hiring and "in growth mode" in a call with journalists to discuss the bank's fourth-quarter earnings. Bank of America also continues to hire, particularly in wealth management, while also remaining disciplined on its expenses, Chief Financial Officer Alastair Borthwick told reporters on Friday. Citigroup Inc's Chief Financial Officer Mark Mason told an earnings briefing "we're actively hiring to execute against our strategy. The banking giants stood by their hiring plans even as other lenders cut staffing in investment banking and mortgages.
☆ Citigroup promotes most women ever to MD role- memo
  + stars: | 2022-12-14 | by ( ) www.reuters.com   time to read: +1 min
Dec 14 (Reuters) - Citigroup Inc (C.N) promoted over 100 women to the role of managing director, the highest ever for the bank, according to a memo seen by Reuters. For the bank, which named a total of 331 employees in 26 countries to the role, it is "one of the largest and most diverse cohorts" in its history, the memo said. The news, first reported by Bloomberg on Tuesday, highlights the New York-based company's push to improve the representation of women at top levels and encourage diversity. Citigroup became the first major Wall Street bank to appoint a woman, Jane Fraser, as its chief executive last year. Citigroup said in September it aimed to boost global representation of women in assistant vice president to managing director levels to 43.5% in 2025 from the current 40.6%.
☆ Citigroup reports $110 million leveraged-loan loss as other banks avoid sector exposure
  + stars: | 2022-10-14 | by ( Saeed Azhar | Matt Tracy | Mehnaz Yasmin | ) www.reuters.com   time to read: +3 min
NEW YORK (Reuters) -Citigroup took a $110 million writedown on leveraged loans in the third quarter, the company said on Friday as its Wall Street competitors downplayed their exposure to the sector. Banks have since pulled back from leveraged financing in the wake of losses taken on Citrix and other deals, as investors lost their appetite for riskier, floating-rate leveraged loans amid rapid interest rate hikes and fears of recession. “There are no real levels of loan write-down this quarter, and that market isn’t yet to clear,” Jamie Dimon, JPMorgan’s chief executive officer, told analysts on a conference call. So we’re very comfortable.”Morgan Stanley also scaled back its leveraged exposure in the third quarter. “They actually were quite modest marks, given the environment,” Sharon Yeshaya, Morgan Stanley’s chief financial officer, told analysts.
☆ Citigroup expects $110 mln loss on leveraged loans in 3Q - CFO
  + stars: | 2022-10-14 | by ( ) www.reuters.com   time to read: 1 min
NEW YORK, Oct 14 (Reuters) - Citigroup (C.N) took a $110 million writedown on leveraged loans in the third quarter, its chief financial Mark Mason said on Friday. "We took about $110 million in total between markdowns and losses on loans in the leverage space," Mason told reporters after earnings were released. U.S. banks wrote down $1 billion on leveraged and bridge loans in the second-quarter as rising interest rates made it tougher for them to offload high-risk debt onto investors and other lenders. Register now for FREE unlimited access to Reuters.com RegisterReporting by Saeed Azhar and Yasmin MehnazOur Standards: The Thomson Reuters Trust Principles.
☆ Citigroup sets new diversity goals for workforce by 2025
  + stars: | 2022-09-20 | by ( Industry Insight | Reuters Professional | Europe Sows Seeds For Sustainable Farming Revolution | ) www.reuters.com   time to read: +1 min
The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris HelgrenCompanies Citigroup Inc FollowNEW YORK, Sept 20 (Reuters) - Citigroup Inc introduced new diversity goals for gender, race and sexual orientation in its workforce for 2025, the bank said in a statement Tuesday. Citigroup became the first major Wall Street bank to appoint a woman, Jane Fraser, as its chief executive last year. Citigroup also expanded its worldwide hiring goals to include 3.5% of people who are lesbian, gay, bisexual, transgender and questioning in 2025 from the current 2.1%. And it further outlined aims for ethnic diversity in the U.K. and Brazil, and hiring college students from underrepresented communities.
☆ Citigroup CFO Mark Mason breaks down the bank's approach to data and technology projects
  + stars: | 2021-12-03 | by ( Carter Johnson | ) www.businessinsider.com   time to read: +4 min
Citigroup, one of Wall Street's largest banks, is prioritizing consumer-banking technology. CFO Mark Mason told Insider about how Citi is using data to inform new tech opportunities. When Insider spoke with Mason, his team, like others across the bank, was in the middle of reviewing its annual budget. This year, Mason said, he and Fraser discussed how Citi's chief data officer for finance interacts with other data heads across the firm, including those in Citi's institutional and consumer businesses. Data on Citi's retail customers — for example, the bank counts more than 130 million credit-card customers across branded and cobranded offerings — is also important.
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