Three long-time Citigroup executives are stepping down

Three Citigroup executives, including CFO John Gerspach, are stepping down from their positions as the bank realigns its top management

Chief financial officer of Citibank John Gerspach, 65, who’s been the bank’s finance chief for nine years, will retire 1 March. Photo: Bloomberg.
Chief financial officer of Citibank John Gerspach, 65, who’s been the bank’s finance chief for nine years, will retire 1 March. Photo: Bloomberg.

London/New York: Three long-time Citigroup Inc. executives, including chief financial officer John Gerspach, are stepping down from their positions as the bank realigns its top management.

Gerspach, 65, who’s been the bank’s finance chief for nine years, will retire 1 March, while North America head Bill Mills and Jim Cowles, 63, who runs the bank’s Europe, Middle East and Africa business, plan to leave at year-end, chief executive officer Mike Corbat said Tuesday in a memo to staff.

Gerspach will be succeeded as CFO by Mark Mason, a 17-year veteran of the bank, Corbat said.