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Key Points
- Mark Mason, Citigroup’s CFO, earned $14.49 million in 2023, driven by strong company performance and strategic leadership.
- Under Mason's guidance, Citigroup’s revenue surged to $78.46 billion, with a 5.26% asset growth.
- Mason’s leadership helped return $6.1 billion to shareholders, including dividends and share buybacks.
One of America’s leading Black executives, Mark Mason, the chief financial officer (CFO) of Citigroup — a multinational investment bank and financial services group — received a compensation package of $14.49 million from the investment banking company in 2023.
As one of the few Black executives on Wall Street, Mason’s compensation included a base salary of $1 million and a performance-based short-term incentive of $4.93 million. These figures reflect his pivotal role in driving Citi toward achieving key financial milestones
Mason also received a long-term incentive award of $7.54 million, underscoring the company’s recognition of his unwavering dedication and expertise as a seasoned corporate leader.
Mark Mason's strategic mastery unveiled in $78.5 billion revenue
Citigroup, the global banking behemoth serving over 200 million customers and the eighth-largest issuer of securities among global investment banks, saw its net income and revenue skyrocket in 2023, reaching $9.23 billion and $78.46 billion, respectively.
Mason played a key role in this success by leading the overhaul of the comprehensive capital analysis and review (CCAR) process, a critical move in strengthening the bank's capital buffers and enhancing investor confidence.
Before joining Citi, Mason honed his expertise at Lucent Technologies and Marakon Associates, developing strategies that added value to top Fortune 100 companies.
His early experience at Goldman Sachs & Co. also refined his investment banking skills, preparing him to navigate the complexities of the financial world.
Beyond the boardroom: Mason's $18.34 million stake in Citigroup
Under Mason's joint leadership, Citigroup returned $6.1 billion to shareholders, including $4.1 billion in dividends and $2.0 billion in share repurchases in 2023. Assets also expanded by 5.26 percent, from $2.29 trillion to $2.41 trillion, during the same period.
Beyond his executive and leadership roles, Mason holds a stake in Citigroup's success. He owns a minority 0.0002 percent stake in the group, equivalent to 252,964 shares with a current market value of $18.34 million.
This underscores his interest in the continued prosperity of the financial giant, which operates in over 160 countries and jurisdictions.
