Citi accelerates risk and control investment: CFO

FILE PHOTO: Customers wait at an ATM at a Citibank branch in New York

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

Speaking at an investor conference, Mason said the bank has planned $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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