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Citizens reports fast progress in building its private bank

American Banker

The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.

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Sing It With Me: What’s the Mask Mandate Got To Do With Wealth Management?

Perficient

California, New Jersey, Connecticut, Delaware, Oregon, Illinois, and Rhode Island have announced plans to lift their statewide mask mandates or school mask mandates, and more states have indicated they will revisit mask requirements in the near future. Mask mandates are being lifted across the country.

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Citizens previews the launch of a nationwide private bank

American Banker

After taking incremental steps to bolster its wealth management business, the Rhode Island bank is preparing to roll out a broader strategy focused on high net-worth clients.

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Citizens Bank reduced its workforce by 3.5% in the fourth quarter

American Banker

After the Rhode Island-based company eliminated 650 positions, severance-related costs contributed to a 71% decline in quarterly net income.

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Citizens awaits thaw in private equity-backed M&A

American Banker

Once the pace of private equity-backed sales of middle-market companies picks up, the Rhode Island-based bank expects to benefit. CEO Bruce Van Saun says that Citizens' recent expansions in private banking and wealth management will provide opportunities to cross-sell to corporate clients.

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Citizens Financial hires two former JPMorgan execs to lead private bank

American Banker

The Providence, Rhode Island, company has recruited a head of wealth management advisors and a head of private wealth managers as part of a new strategy to reel in high-net worth clients.

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Citizens builds liquidity amid concerns over credit, regulation and war

American Banker

The Rhode Island-based bank is bolstering its cash position in the face of worries about office loans, stricter capital requirements for regional lenders and the possibility of economic shock from overseas conflicts.