
Citizens Private Bank Hits $7B in Deposits
During its fourth-quarter earnings call, Citizens executives announced that the company’s private bank has grown to $7 billion in deposits.
During its fourth-quarter earnings call, Citizens executives announced that the company’s private bank has grown to $7 billion in deposits.
In its third-quarter earnings call Wednesday, Providence-based Citizens Bank revealed that its new private bank had eclipsed $5 billion in deposits, up from $1.2 billion at the start of the year.
Citizens Financial Group’s move to seize market share among the Northeast’s rich is gathering pace, executives said during the bank’s first-quarter earnings call Wednesday.
Citizens Bank jumped into what it said was a “void” in the region’s banking market for the richest individuals and businesses Thursday, launching a private bank and beefing up its wealth management services with new hires.
After hiring around 50 wealth managers from the now-acquired First Republic Bank last month, Citizens Bank said on Monday that its team of wealth managers will be joined by their former leader.