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The Latest Breaking News from Mark Mason

Citi's $81 trillion mixup underscores the risks of manual processes

"Human error is inevitable," says an accounting expert.

Fortune

Citigroup's $81 trillion mistake is a warning sign 'that operational risk is still a ticking time bomb in banking,' expert says

It took three employees and several hours for Citigroup to realize it credited a customer account with $81 trillion instead of $280.

Fortune

US Bank Profits Rise As Wall Street Hopes For Merger Boom

Large US banks reported soaring profits Wednesday propelled by strength in trading and financial advisory services as Wall Street eyes a potential merger boom under the incoming Trump administration.

International Business Times

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Citigroup CFO Mark Mason tells Goldman Sachs audience why his bank failed to meet regulatory requirements as part of $400 million penalty

The chief financial officer explained how the way Citigroup was founded is contributing to problems complying with regulatory requirements.

Fortune

Lord of the ringtones: Nokia celebrates pop-culture status by opening design archive

The mobile phones we loved then lost are honoured by an online archive which reveals history of bestselling brand

The Guardian - UK

Meet 9 CFOs from the Fortune 500 poised to make the jump to CEO

A seasoned executive recruiting expert identifies potential chief executives.

Fortune

Mixed Profits At US Banks Amid Weaker Signs From Low-income Customers

JPMorgan Chase and Citigroup reported increased second-quarter profits Friday despite somewhat higher costs to account for bad loans in light of greater stress on lower-income customers.

International Business Times

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Solid Profits At Banks As Execs Debate US Economic Risks

Large American banks reported solid earnings Friday behind still-high interest rates while offering varying views on the likelihood the United States can avoid a near-term recession.

International Business Times

Citigroup to cut 20,000 jobs after steep quarterly loss

JPMorgan Chase posts record annual profit as earnings season gets under way

The Guardian - US

Citi CEO Jane Fraser: 'We must be proactive about embracing A.I.—it's an essential part of winning in the digital era'

Generative A.I. has the potential to revolutionize all functions across the banking industry, according to Fraser.

Fortune

Citigroup CFO Mark Mason on how ‘careers are defined in times of crisis’

Mason discusses the regional bank turmoil but also shares how an earlier crisis shaped his career.

Fortune

JPMorgan, Citigroup and Wells Fargo reap gains from rates roiling small banks

JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. are reeling in windfalls from higher interest rates that upended smaller lenders last month.

Tribune News Service

Critically ill patients ‘will inevitably die’ due to junior doctors’ strike

Exclusive: leading heart experts urge BMA to exempt staff working on critical care units in England

The Guardian - UK

Seattle's downtown needs office workers. Do workers need offices?

To a casual visitor, the 56-floor Two Union Square building looks well ahead of the pack in downtown Seattle's slow march back to the office.

Tribune News Service

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The Independent UK

Faculty, students sue Christian school over LGBTQ hiring ban

Divisions over LGBTQ-related policies have flared recently at several religious colleges in the United States

Benzinga

Why Bank Analyst Is Bullish On Citigroup Following CFO Meeting

Citigroup Inc (NYSE: C) shares have lagged the S&P 500 and many of its banking peers so far in 2022, but Bank of America analyst Ebrahim Poonawala said Monday that a recent meeting with Citigroup CFO Mark Mason has him feeling extremely optimistic about the stock's outlo

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