Citizens Builds on Growing Presence in Florida, Announces First Market President

Rhea-AI Summary

Citizens Financial Group (NYSE: CFG) has appointed Jim Weiss as the new Florida market president, enhancing its growth in the state. Weiss, who brings over 30 years of banking experience, will focus on expanding Citizens' local presence, leveraging his previous roles at Busey Bank and Fifth Third Bank. Under Weiss's leadership, Citizens aims to strengthen its offerings in Commercial, Wealth, and Retail banking.

The company continues to invest in Florida with 270 colleagues, five retail branches, and two wealth centers. This follows the opening of a Private Bank office in Palm Beach earlier this year. Weiss will collaborate closely with various banking teams to provide comprehensive financial solutions to Florida's residents and businesses.

Citizens Financial Group, one of the largest financial institutions in the U.S., has $220.4 billion in assets as of March 31, 2024. The company offers a wide range of retail and commercial banking products and services, emphasizing client-focused advice and tailored financial solutions.

Positive

• Appointment of Jim Weiss, an industry veteran with over 30 years of experience, as Florida market president.
• Expansion of Citizens' presence in Florida with 270 colleagues, five retail branches, and two wealth centers.
• Opening of a Private Bank office in Palm Beach earlier this year.
• Weiss's extensive experience at Busey Bank and Fifth Third Bank, enhancing Citizens' local expertise.
• Citizens Financial Group's assets total $220.4 billion as of March 31, 2024.
• Comprehensive range of retail and commercial banking products and services offered by Citizens Financial Group.

Negative

• Increased expenses due to expansion in Florida, including the addition of new branches and wealth centers.
• Potential dilution of resources as Citizens focuses on new markets, possibly affecting performance in existing areas.
• Integration challenges with new leadership and existing teams which could impact operational efficiency.
• The financial commitment required for further expansion in a competitive market like Florida.

Citizens welcomes industry veteran Jim Weiss

PROVIDENCE, R.I.--(BUSINESS WIRE)-- Citizens Financial Group, Inc. (NYSE: CFG) today announced that Jim Weiss has joined Citizens as Florida market president to bring additional local focus and expertise as Citizens continues to grow its presence in Florida.

Weiss, based in Tampa, has more than 30 years of banking experience and most recently served as regional president at Busey Bank where he led the Commercial, Wealth and Retail businesses in Florida. Prior to that, he had a 16-year career at Fifth Third Bank, most notably leading the Commercial business across the state.

With approximately 270 colleagues, five retail branches and two wealth centers across the state, Citizens continues to invest in best-in class experience and solutions to support Florida’s residents and businesses. This latest move follows the opening of Citizens’ first Private Bank office in Palm Beach earlier this year. Weiss will partner closely with Citizens’ Private Bank, Wealth Management, Capital Markets & Advisory, Business Banking and Retail Banking teams to bring senior-level attention and expertise to both new and existing clients.

“Jim will help connect Florida’s business owners with the expertise and capabilities Citizens can provide at every stage of their lifecycle — whether they’re just starting up, looking to grow through mergers or acquisitions, or building wealth for generations to come,” said Steve Woods, head of corporate banking at Citizens. “We look forward to providing more of our world-class expertise and solutions to the Florida community.”

Citizens is a trusted strategic and financial adviser, consistently delivering clear and objective advice. The Citizens approach puts clients first by offering great ideas combined with thorough market knowledge and excellent execution, to help our clients enhance their business and reach their potential. For more information, please visit the Citizens website.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $220.4 billion in assets as of March 31, 2024. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,300 ATMs and approximately 1,000 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240515692179/en/

Maureen Barry

910.477.7596

maureen.barry@citizensbank.com

Source: Citizens Financial Group, Inc.

FAQ

Who is the new Florida market president for Citizens Financial Group?

Jim Weiss has been appointed as the new Florida market president for Citizens Financial Group.

What experience does Jim Weiss bring to Citizens Financial Group?

Jim Weiss has over 30 years of banking experience, including roles at Busey Bank and Fifth Third Bank.

How is Citizens Financial Group expanding its presence in Florida?

Citizens Financial Group is expanding in Florida with 270 colleagues, five retail branches, two wealth centers, and a new Private Bank office in Palm Beach.

What are the total assets of Citizens Financial Group as of March 31, 2024?

As of March 31, 2024, Citizens Financial Group has $220.4 billion in assets.

Which teams will Jim Weiss collaborate with in his new role?

Jim Weiss will collaborate with Private Bank, Wealth Management, Capital Markets & Advisory, Business Banking, and Retail Banking teams.