03/24/2010
Citizens Bank expands Wealth Management business by adding Premier Banking division in greater Philadelphia
27 new jobs created
Philadelphia (March 25, 2010) - Citizens Bank of Pennsylvania today announced the introduction of Premier Banking, which provides comprehensive services for customers in the greater Philadelphia region, including New Jersey and Delaware. As part of the expansion, Citizens Bank has hired and trained 27 new branch-based Premier Banking relationship managers.
The introduction of Premier Banking in greater Philadelphia is the most recent example of Citizens’ expanding Wealth Management business across the bank’s 12-state retail footprint. In addition to Premier Banking, Citizens’ Wealth Management business includes its broker-dealer sales force and Private Banking and Estate Planning divisions. Since 2008, Citizens Bank has offered services to high-net-worth individuals in the Philadelphia area and has plans to expand the existing team later this year.
"The expansion of our Wealth Management business is part of Citizens Bank's organic growth strategy." said Daniel K. Fitzpatrick, President and CEO of Citizens Bank in Pennsylvania, New Jersey and Delaware. "Our Premier Banking division gives us the opportunity to expand our base of products and services, while forging deeper relationships with the fast-growing 'mass affluent' consumer segment."
Premier Banking relationship managers will provide customers with the high-touch level of service that is often necessary for delivering the investment and credit products used by customers with $200,000 to $1.5 million in deposits and investments. The new service is being offered at a time when many customers are looking for opportunities to grow their portfolios.
"Our new relationship managers, who are all securities licensed, have a broad base of knowledge and experience that is necessary to handle the more specialized needs of these customers." said Benjamin Oltman, Premier Banking Sales Manager, who is leading the Premier Banking team in the Philadelphia region. "Premier Banking relationship managers will bring significant value to customers by acting as their 'quarterback' to a team of bank experts in order to deliver customer solutions and services as quickly and seamless as possible."
In September 2009, Citizens Financial Group announced plans to expand its Wealth Management business with the appointment of Thomas P. Fay as Chief Investment Officer and Director of Wealth Management Services and Brian O'Connor as Senior Vice President and Head of Relationship Management for Citizens' newly created Premier Banking business.
About Citizens Bank of Pennsylvania
Citizens Bank of Pennsylvania is a state-chartered bank with dual headquarters in Pittsburgh and Philadelphia. It has 383 branches and 651 ATMs throughout Pennsylvania. It also operates 15 retail branches and 66 ATMs in southern New Jersey and a commercial loan office in Virginia. It is a subsidiary of Citizens Financial Group, Inc., a $148 billion commercial bank holding company headquartered in Providence, R.I.
Citizens Financial Group, through its subsidiaries, has more than 1,500 branches, and approximately 3,500 ATMs and approximately 22,700 employees. CFG’s two bank subsidiaries are RBS Citizens, N.A. and Citizens Bank of Pennsylvania. They operate a 12-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont, and the Charter One brand in Illinois, Michigan and Ohio. CFG has non-branch retail and commercial offices in about 40 states.
