Citi accelerates risk and control investment: CFO

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Citigroup Inc Chief Financial Officer Mark Mason said on Monday that the bank is accelerating investments in its risk and control functions ...

Citigroup Inc Chief Financial Officer Mark Mason said on Monday that the bank is accelerating investments in its risk and control functions following a high profile US$900 million operational error.

FILE PHOTO: The Citigroup Inc logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris HelgrenREUTERS: Citigroup Inc Chief Financial Officer Mark Mason said on Monday that the bank is accelerating investments in its risk and control functions following a high profile US$900 million operational error.

Speaking at an investor conference, Mason said the bank has planned US$1 billion in incremental investments this year to shore up the bank's infrastructure and improve risk management and compliance across the firm.

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