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Stories

Stories

01 Sep 2020


3-Minute Briefing: Mark Mason (MBA 1995)

CFO, Citi
Re: Mark Mason (MBA 1995); By: April White; Photo by: Michael Bucher

Topics: Finance-Banks and BankingCareer-GeneralDemographics-DiversityDemographics-Race-African American, BlackLeadership-Leading Change
01 Sep 2020


3-Minute Briefing: Mark Mason (MBA 1995)

CFO, Citi
Re: Mark Mason (MBA 1995); By: April White; Photo by: Michael Bucher

Topics: Finance-Banks and BankingCareer-GeneralDemographics-DiversityDemographics-Race-African American, BlackLeadership-Leading Change
01 Sep 2020

3-Minute Briefing: Mark Mason (MBA 1995)

CFO, Citi
Re: Mark Mason (MBA 1995); By: April White; Photo by: Michael Bucher
Topics: Finance-Banks and BankingCareer-GeneralDemographics-DiversityDemographics-Race-African American, BlackLeadership-Leading Change
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In the summer when it got really hot, my brother and I would buy cases of water. We grew up in Queens near Linden Boulevard and we would stand on the corner and sell bottles of water to people who stopped at the light. We always had this knack for creating opportunities.

I started college as a physician’s assistant major. But somewhere in my first semester at Howard my roommate’s father came to visit. He was an entrepreneur. He started talking about finance and accounting and how it all worked. That was a pivotal moment for me.

I am a collaborative leader, and I try to build teams with different perspectives. But I’m also willing to take ownership. That’s not in contradiction to the first point. Leaders have to make decisions and provide vision and direction to motivate people to execute.

Unlike the last crisis, which had roots in the financial system, the COVID-19 pandemic is a public health crisis that has produced severe economic shocks and has shined a light on the longstanding issues around racial equality.

Citi too is a very different firm than we were during the financial crisis more than a decade ago. Not only are we on a strong and stable footing as an institution, but we are also well-positioned to help our clients weather this crisis and piece the economy back together. This is a moment for global banks like Citi to show the vital role we can play in growing an inclusive economy.

I’m a believer in corporations putting their voice and energy behind important social issues. When I watched the horrific video of George Floyd’s murder, it didn’t take me long to come to the conclusion that I needed to speak out. If not now, when?

I discussed it with my family, and they encouraged me to share my views and make a call for action. As the most senior Black leader in our company, I wanted my colleagues to hear from me, and the industry needed to hear from Citi. The response was overwhelming and I hope to inspire people to continue on the path of greater awareness, education, and action to drive systemic change related to the issue of racial equity.

A former Citi CFO, Gary Crittenden, asked me to become CFO for Citi Holdings right at the beginning of the financial crisis. He told me: “Careers are defined in times of crisis.” I said, “You want me to be CFO of a bad bank?” and he said, “I prefer you not refer to it as a bad bank. Citi Holdings could actually be the thing that saves the firm.” I took that job.

I have a desk piece that my wife bought for me when I first joined the firm. It reads, “What would you attempt to do if you knew you could not fail?” It is really about thinking big and not letting fear get in the way. It sits on my desk. Some days it’s facing the person who comes to visit, and some days it’s facing me.

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Mark Mason
MBA 1995
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MBA 1995
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