Modernizing Citi's card portfolio by delivering digital-first, client-centric products has been Pam Habner's focus for the past several years, and the resulting contribution to the bank is significant: The U.S. consumer cards business drives roughly 20% of the firm's revenues and shapes how nearly 70 million consumers engage with the bank across payments, credit, and everyday spending.
That effort requires a laser focus on product development and the customer experience, most recently through an AI operating model that she is establishing to rapidly integrate AI tools across the business to drive efficiency, improve customer engagement and identify new revenue generating opportunities. Since the beginning of 2025, the head of U.S. consumer cards and her team have launched eight new or refreshed products and upgraded five core payment and loyalty platforms.
"To remain competitive and to keep engaging our customers with our products and bringing in new customers, more rapid innovation is going to be required," she said. "We're using AI to radically reduce the amount of time it takes us to get a product from idea to market. Based on some of our early pilots in accelerating the product development life cycle, we've gone from 24 weeks to six weeks."
That willingness to embrace innovation has helped Habner consistently deliver stellar results. In 2025, customers spent $626 billion on Citi cards, generating revenues of $18.3 billion, up 3% year over year; earnings were $4.4 billion, up 63% year over year; positive operating leverage had an efficiency ratio of 37%; and return of tangible common equity was 16.8%. These returns were powered by new customer acquisitions of 13 million (up 4% year over year), strong retention rates (~98%) and disciplined risk management with net credit losses at 4.3% (down 23 basis points year over year).
When asked to highlight a significant strategic move in her tenure, Habner immediately pointed to the combination of two separate cards businesses in the first quarter, Citi branded cards and Citi retail services, to create one of Citi's five core businesses. "In bringing these two businesses together, we wanted to very much follow customer needs." If early results are any indication, that observation is spot on. In the second quarter, general purpose spending rose12% year over year.
That kind of strategic move is emblematic of Habner's instinct for where the industry is headed next and makes her a sought-after partner. Take, for example, Citi's collaboration with Mastercard to support the launch of Mastercard Agent Pay, enabling secure, tokenized agentic transactions. "She has consistently challenged convention, built high performing teams, and created momentum around some of the most important opportunities shaping the future of cards, loyalty, and connected commerce," said Linda Kirkpatrick, chief services officer at Mastercard. "She is an exceptional partner and a defining voice in modern financial services."
