7/27/2019 Citi Names New CEOs of CitiMortgage, Other Units - MarketWatch

1/1

May 20, 2013, 3:35 p.m. EDT

Citi names new CEOs of CitiMortgage, other unitsBy Liz Moyer

--CitiMortgage's current CEO decides to leave the bank

--Private bank CEO Fraser moves to CitiMortgage; Citi Holdings CEO Mason moves to Private Bank

--Citi Holdings new CEO is d'Archirafi

(Updates information about Mr. Mason's background in seventh paragraph.)

Citigroup Inc. (NYSE:C) shuffled the top executives of several businesses, including its private bank, its mortgage operation and the unit that houses

non-core businesses and assets.

Jane Fraser will become the head of CitiMortgage after current leader Sanjiv Das decided to leave the bank for other unspecified opportunities,according to a memorandum Monday from Citi Chief Executive Mike Corbat.

Mark Mason will take over for Ms. Fraser as CEO of the private bank, and Francesco Vanni d'Archirafi will become the new CEO of Citi Holdings, the

memo said.

Mr. Das has run CitiMortgage since the financial crisis, helping to stabilize the business, Mr. Corbat said in the memo. He will stay at the bank for

several months and work on resolving long-standing mortgage issues, the memo said.

Meanwhile, Ms. Fraser is credited with transforming the company's private banking business over the last four years as the CEO of that unit. She led

the restructuring of the private bank's investment platform and integrated it with other institutional businesses, the memo said.

Ms. Fraser joined Citi in 2004 and was a partner at McKinsey & Co. before that. She will report to Manuel Medina-Mora, a co-president of Citi and head

of its global consumer bank, and join Citi's operating committee.

Mr. Mason has been a senior executive at Citi Holdings, the unit that is handling the unwinding of Citi's non-core businesses. He was named CEO of

Citi Holdings in 2011, when Mr. Corbat was named CEO for Citi in the Europe, Middle East and Africa region. Before that he was chief operating officerof the unit, which has assets of $150 billion, down from more than $700 billion when the unit was first formed in early 2009.

Before joining Citi Holdings, Mr. Mason was chief financial officer and head of strategy and M&A for Citi's global wealth management division. As head

of the private bank, he will report to James Forese, a co-president of Citi and head of its institutional clients group.

Mr. d'Archirafi has been head of Citi Transaction Services for the last four years. Last month, the unit was folded into the institutional clients group as

part of a streamlining effort. At Citi Holdings, Mr. d'Archirafi will report to Gene McQuade, the CEO of Citibank N.A.

Copyright 2013 MarketWatch, Inc. All rights reserved.By using this site, you agree to the Terms of Service and Privacy Policy - UPDATED 10/18/2011.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and curr ent end-of-day data provided by SIX Financial Information. Intraday data delayed per exchange requirements. S&P/Dow JonesIndices (SM) from Dow Jones & Company, Inc. All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More information on NASDAQ traded symbols and their current financial status. Intraday data

delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc. SEHK intraday data is provided by SIX Financial Information and is at least 60-minutesdelayed. All quotes are in local exchange time.

ames new CEOs of CitiMortgage, other units - MarketWatch http://www.marketwatch.com/Story/story/print?guid=2A4C9F78

7/2/2013