Good morning. As AI becomes table stakes for business efficiency and risk management, Citigroup’s edge lies in how it uses technology to amplify its global reach, says CFO Mark Mason.
Citi (No. 21 on the Fortune 500) serves clients in more than 180 countries, with a physical presence in over 90 countries. Its longstanding global presence—rooted in decades of serving multinationals and maintaining institutional operations even in markets where it has exited consumer banking—remains central to its strategy. “That credibility shows up because a lot of people who lead our franchise in those markets are from those countries,” Mason told me in our conversation this week. “That’s been incredibly valuable for us.”
Mason sees global reach as a lasting advantage. Even as supply chains shift amid geopolitical tensions, he believes multinationals will still need cross-border support. “I don’t see large multinationals retrenching and becoming much more insular,” he said. Citi’s model, he added, is built on adaptability—recognizing that while markets evolve, global connectivity remains essential.
That principle extends to technology. Citi has made major strides in improving data quality, risk controls, and regulatory reporting, part of a broader modernization effort led by process discipline and strong internal leadership, Mason said.
AI now sits at the center of that work. Every Citi business has identified five AI use cases to develop, Mason said, fostering collaboration across teams and improving data governance. Once a week, teams meet to share progress, review risks, and discuss learnings. “In the planning process, risk plays a significant role,” he said. “They’re involved in the macroeconomic variables we use, and we always conduct stress testing as part of planning.”
AI training and oversight
Citi has already rolled out AI tools like Citi Assist and Citi Stylist to about 180,000 of its approximately 229,000 employees to help streamline planning, document summarization, and HR and finance queries. For technology teams, AI assists with code review and planning, saving thousands of hours while improving accuracy. Across divisions, Citi is targeting processes—from forecasting to regulatory reporting—where AI can lift both speed and precision, Mason said.
Still, he is cautious. Dual processes and human oversight remain in place for critical tasks like financial reporting. “I’m excited about the use of AI in finance—but cautious,” Mason said. “Robust controls and subject matter expertise are essential.”
Citi is also offering employees AI prompting training. “Almost all the power is in the prompt,” Mason said. “How you write it determines the quality of the output.” Mason tried the training for more than 30 minutes and found it valuable, he told me. AI, he added, highlights the importance of subject matter expertise: “It can quickly surface relevant data, but it’s not yet perfect.”
As for returns on AI investment, Mason said the payoff varies. Some use cases help identify new revenue opportunities; others reduce costs by automating manual work. “Some aspects help drive revenue, others free up time or eliminate manual activity,” he said.
Mason oversees a global finance team of nearly 10,000 people but is deeply involved in Citi’s broader transformation strategy.
“One of the things I love about being a CFO is that you have a license to stick your head anywhere you’d like,” he quipped. “But it’s important to understand what’s going on because, ultimately, it’s going to impact the numbers, require investment, or generate returns.”
Sheryl Estrada
sheryl.estrada@fortune.com
Leaderboard
Indrajit Ponnambalam was appointed CFO of Nextdoor Holdings, Inc. (NYSE: NXDR), a neighborhood network, effective Dec. 1. Ponnambalam brings more than 20 years of financial leadership experience. Most recently, he served as CFO at Premion, a connected TV advertising platform. Previously, he spent five years at Match Group in senior finance leadership roles, including chief administrative officer and SVP of finance.
Todd Goodman was promoted to CFO of AdventHealth, effective Feb. 1, following Paul Rathbun’s recent decision to retire at the end of January. Most recently, Goodman served as the executive vice president of finance for AdventHealth. He previously held the roles of senior vice president and CFO for AdventHealth Florida and AdventHealth’s Central Florida Division. He has been with the organization since 1991, serving in various finance leadership positions.
Big Deal
Going deeper
"Novo Nordisk CFO outlines ‘ultimate defense’ against stock downgrades and lawsuits to retain weight-loss crown" is a Fortune article by Eleanor Pringle.
Pringle writes: "When Ozempic and Wegovy launched, their bombshell success was only going to be exclusive to their maker—Novo Nordisk—for a matter of time. While the Danish pharma giant holds the patents to these GLP-1s for the time being, some are due to expire as early as next year."
"In its Q3 2025 results released Nov. 5, Novo reported expected sales growth for the year of between 8% and 11% at constant exchange rates, and operating growth profit now between 4% and 7%. Compared to the same time last year, Novo was predicting 22% operating profit growth and sales growth of 24%. Novo Nordisk shares dropped on the update before quickly rebounding, but its stock remains on a downward trajectory. Its share price has fallen more than 50% year to date."
You can read more about Pringle's interview with Novo CFO Karsten Munk Knudsen here.
Overheard
"The next wave of truly transformative companies won’t just come from Silicon Valley’s demo days or AI leaderboards. They’ll emerge from factory floors, farms and freight hubs, built by founders modernizing industries like manufacturing, agriculture, and logistics."
—Michael Palank, general partner at MaC Venture Capital, writes in a Fortune opinion piece, "The innovation blind spot: how Silicon Valley ignores Middle America."
