Table of Contents
One of America’s leading Black executives, Mark Mason, the chief financial officer of Citigroup — a U.S. multinational investment bank and financial services group — received a compensation package of $15.05 million from the investment banking company in 2022.
Mason — one of the few Black executives on Wall Street — received a compensation package that includes a base salary of $1 million and a performance-based short-term incentive of $5.22 million. This is a direct reflection of his joint role in leading Citi toward impressive financial milestones in 2022.
The highly accomplished corporate executive also received a long-term incentive award of $7.2 million — highlighting his unwavering dedication and expertise as a seasoned business executive.
Inside Citigroup’s financial surge: Michael Mason’s strategic mastery unveiled in $75-billion revenue
Citigroup, the global banking behemoth serving more than 200 million customers and the eighth-largest issuer of securities among global investment banks, saw its net income and revenue skyrocket in 2022, reaching $14.85 billion and $75.34 billion, respectively.
Behind this stellar performance lies the hand of Mason, a key architect of Citi’s recent financial success. Mason spearheaded the streamlining of the crucial comprehensive capital analysis and review (CCAR) process, a critical step in shoring up the bank’s capital buffers and boosting investor confidence.
Prior to joining Citi, Mason honed his skills at Lucent Technologies and Marakon Associates, crafting value-boosting strategies for top Fortune 100 companies. Notably, his early days at Goldman Sachs & Co. further polished his investment banking acumen, equipping him with the complexities of the financial world.
Beyond the boardroom: Mason’s $10.35-million personal stake in Citigroup
Under Mason’s joint leadership, Citigroup saw its profit surge 98.64 percent, from $11.05 billion in 2021 to $21.95 billion in 2022. This leap was largely driven by rising interest rates. Assets also expanded by 5.47 percent, from $2.29 trillion to $2.42 trillion, during the same period.
Beyond his executive and leadership roles, Mason holds a personal stake in Citigroup’s success. He owns a minority 0.011 percent of the group’s ordinary shares, equivalent to 208,437 shares with a present market value of $10.35 million. This underscores his interest in the continued prosperity of the financial giant, which operates in over 160 countries and jurisdictions.
The intelligence satisfies curiosity. The paid briefings satisfy strategy.
Every Monday, Elite subscribers receive an Investor Memo breaking down the deal, the structure and the positioning behind the week's most consequential African wealth story - the kind of analysis that doesn't appear anywhere else.
Twice a month, a Wealth Intelligence brief profiles a single billionaire's holdings, cash flows and expansion pipeline in detail no public source matches.
→ Executive ($25/mo): Daily newsletter + Deep-Dive Reports
→ Elite ($75/mo): Everything above + Investor Memos + Wealth Intelligence + Quarterly Analyst Briefings
Subscribe now
