Citigroup makes investor day virtual after positive COVID tests

Citigroup changed course on holding Wednesday’s investor day meeting in person after two members of senior management, Chief Financial Officer Mark Mason and Paco Ybarra, head of the bank’s institutional clients group, tested positive for COVID-19. 

Victor J. Blue/Bloomberg

“While we hoped to host our Investor Day in person, health and safety must be our top priority,” Chief Executive Jane Fraser said in an emailed statement. “We believe a virtual format is the right decision given our circumstances, and we remain excited about and committed to presenting our strategy, progress over the last year and our path forward to our investors this week.”

Fraser will still give an update on her reshaping of the New York-based bank, albeit virtually, on Wednesday.

Also on Monday, Citigroup named Titi Cole to oversee consumer businesses that the bank’s exiting,
disclosed a regulatory probe over employee communications using unauthorized messaging services, and said it had $9.8 billion in domestic and cross-border exposure to Russia as Western nations level sanctions against the country for its invasion of Ukraine.