PROVIDENCE – Citizens Financial Group Inc. has launched its Citizens Private Bank initiative nationwide to help facilitate growth in wealth management, improve capabilities in the high-net-worth segment and expand in key markets, the bank announced.
Citizens Private Bank will provide holistic, high-touch client service to high-net-worth individuals, families and businesses, including private family foundations, nonprofit, multifamily and commercial real estate, life sciences, private equity and venture capital firms, according to a news release.
As part of the launch, the bank will open six private banking offices later this year and throughout 2024, according to the release. As previously announced in June, Citizens hired approximately 150 highly experienced colleagues, including 50 relationship managers, and since then more than 25 additional hires have been made across private banking, wealth management and related support roles, according to the release.
These initial offices will open in New York City, Boston and Palm Beach, Fla., in addition to locations throughout the San Francisco Bay area, including downtown San Francisco, the Silicon Valley and Marin County, Calif.
“Today’s launch represents a significant step forward for Citizens and our Private Banking and Wealth Management strategy, as we bring to market an extraordinary client service model for high-net-worth individuals and businesses,” Brendan Coughlin, vice chair and head of consumer banking at Citizens, said in a statement. “We’ve continued to grow our talented team of relationship managers, wealth managers and support staff in a market that has been materially disrupted, which positions Citizens to be a preeminent Private Bank over time.”
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