Richard Stein will assume the role of chief risk officer of Citizens Financial Group upon the retirement of Malcolm Griggs in Q1/24. Stein will join Citizens from Fifth Third Bancorp, where he most recently served as executive vice president and chief credit officer.
The board of governors of the Federal Reserve and the Office of the Comptroller of the Currency approved Citizens Financial Group’s previously announced acquisition of Investors Bancorp.
Citizens Financial Group hired Polly N. Klane as general counsel and chief legal officer, effective April 4. Klane will join Citizens from Capital One Financial, where she most recently served as senior vice president and deputy general counsel.
Citizens Financial Group and JMP Group entered into a definitive merger agreement under which Citizens will acquire JMP in an all-cash transaction.
Citizens Financial Group and Investors Bancorp entered into a definitive agreement and plan of merger under which Citizens will acquire all of the outstanding shares of Investors for a combination of stock and cash.
Citizens Bank entered into an agreement to acquire 80 East Coast branches from HSBC Bank as well as HSBC’s national online deposit business. Under the agreement, Citizens will acquire approximately $9 billion in deposits and approximately $2.2 billion in loans.
Citizens Financial named Chief Financial Officer John F. Woods a vice chairman of the bank. He joins Brad Conner, head of Consumer, and Don McCree, head of Commercial, as vice chairmen of Citizens.
Citizens Financial appointed Edward “Ned” J. Kelly III to its board of directors, effective February 1, 2019. Lead independent director Arthur Ryan will retire from the same board shortly thereafter in April 2019.
Citizens Financial appointed Ted Swimmer, head of corporate finance and capital markets for Citizens Commercial Banking, to the company’s executive committee.
Citizens Financial Group named John F. Woods executive vice president and chief financial officer. He joins from MUFG Union Bank, where he served as CFO of the Americas.