| 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 Private Bank now boasts $2.4 billion in deposits as of March 31 and around $500 million in assets under management, the bank’s earnings presentation noted. That’s up from $1.2 billion in deposits and $400 million in assets under management in the fourth quarter of 2023 and $200 million in deposits in the third quarter of the same year.
“The ship has landed and we’re off to a great start. We expect that to continue and even accelerate,” CEO Bruce Van Saun said
What else is on tap today?
- ‘Bullish’ on Mass. Tourism: The Federal Reserve Bank’s latest Beige Book found that tourism is a bright spot in the regional economy with a strong outlook.
- Arup Exec to City Hall: Brian Swett is returning to Boston City Hall after a nine-year stint in the private sector to lead the city’s climate change and decarbonization policies.
- Fallon Co. in Nashville: The developer of Boston’s Fan Pier is set to begin another signature project transforming an urban waterfront – this time on the Mississippi.
Show me the data!
Mortgage interest rates jumped by a dozen basis points this week.
What did I miss?
Here’s what you might have missed in Sunday’s newsletter. Not a B&T subscriber? Fix that here.
- Roxbury-based BlueHub Capital’s Karen Kelleher is seeing no let-up in demand for the lender’s services as an intermediary piecing together financing packages for real estate projects in low-income communities.
- Firms where employees battle against each other for rank, bonuses and promotions are common in law and finance. But while, on its face, they are gender-neutral, they actually worsen gender inequality.
- Boston leaders are planning new rules that will open the door to new downtown towers as they grapple with falling office property values. Here’s how they’ll work.
