Citigroup has appointed Mark Mason as new chief executive of its private bank business replacing Jane Fraser, who has been named new head of the bank’s mortgage business.
Fraser will replace Sanjiv Das, who decided to leave the bank for other unspecified opportunities. Fraser is credited with transforming the company’s private banking business over the last four years as the CEO of that unit.
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In his new role, Mason will report to James Forese, co-president of Citi and head of the bank’s institutional clients group.
Mason has been a senior executive at Citi Holdings, the unit that is handling the unwinding of Citi’s non-core businesses. He was named CEO of Citi Holdings in 2011. Before that he was COO of the unit, which has assets of $150 billion.
The bank has appointed Francesco Vanni d’Archirafi as the new CEO of Citi Holdings.
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