Citigroup CFO John Gerspach To Retire

(RTTNews) - Citigroup Inc.'s (C) long-time Chief Financial Officer John Gerspach will retire next year in March. Gerspach will be replaced by Mark Mason, CFO of the Institutional Clients Group.

Gerspach will end his tenure as the bank's CFO on March 1, 2019, according to an email Chief Executive Michael Corbat sent to employees that was viewed by The Wall Street Journal.

Gerspach has served as Citigroup's CFO since July 2009, making him the longest-serving finance chief currently at any major U.S. bank.

Gerspach joined Citigroup as an accountant in 1990 and became CFO in July 2009.

He has represented our company exceptionally well, not just in good times but in tough ones as well," Chief Executive Officer Mike Corbat said in the memo.

Corbat also announced that North America CEO Bill Mills and Europe, Middle East and Africa CEO Jim Cowles would be leaving the bank at year-end. Kristine Braden, who is country officer for Switzerland, has been named new chief of staff.