First Citizens Bank Names Chief Marketing Officer

Rhea-AI Summary

First Citizens Bank has appointed Michelle Draper as its new Chief Marketing Officer (CMO). Draper, who previously served as Chief Marketing and Sales Strategy Officer at Silicon Valley Bank (SVB), brings over 30 years of financial industry experience to her new role. She will lead a nationwide marketing organization focused on delivering customer-centric solutions and experiences.

Draper's extensive background includes a decade at SVB, where she led global marketing and strategy initiatives. Prior to that, she spent nearly 20 years at Charles Schwab, overseeing various functions as the company grew significantly. In her new position, Draper aims to strengthen First Citizens' brand and reputation, supporting the bank's long-term goals and vision.

First Citizens Bank, with a 125-year history of serving personal, business, commercial, and wealth clients, has recently expanded through acquisitions of SVB in 2023 and CIT in 2022. The bank continues to focus on stability and long-term thinking while growing its operations.

Positive

• Appointment of experienced CMO with 30+ years in financial industry
• Strategic hire to strengthen customer-centric approach and brand reputation
• Recent acquisitions of SVB (2023) and CIT (2022) indicate company growth

Negative

• None.

Michelle Draper, former Silicon Valley Bank CMO and 30-year financial industry veteran, to lead marketing and client experience 

RALEIGH, N.C., Oct. 17, 2024 /PRNewswire/ -- First Citizens Bank today announced the appointment of Michelle Draper to Chief Marketing Officer (CMO). Most recently, Draper served as Chief Marketing and Sales Strategy Officer of Silicon Valley Bank (SVB), a division of First Citizens Bank.

In her role serving the First Citizens enterprise, Draper leads a marketing organization nationwide dedicated to building upon the company's customer-centric vision that delivers solutions, experiences and capabilities based on customers' needs.

Draper brings more than three decades of marketing leadership with a proven track record of growing market share, brand leadership and building customer and stakeholder loyalty to her new role. While serving as Chief Marketing and Strategy Officer for SVB between 2013-2023, she led critical initiatives that advanced SVB's mission to increase the probability of its clients' success. Understanding the unique needs of the global innovation economy, Draper strengthened SVB's client experience capabilities by building teams focused on strategy alignment, experience design and customer insights.

"Michelle has a long career in financial services and has been instrumental to SVB's success for more than a decade, leading global marketing and strategy initiatives," said Jeff Ward, First Citizens' Chief Strategy Officer. "Michelle's laser focus on the customer will support First Citizens' drive toward our long-term goals and will advance our vision to further strengthen our brand and reputation with clients and prospects seeking the financial solutions we deliver."

First Citizens Bank has served personal, business, commercial, and wealth clients in building financial strength for more than 125 years. Following its recent acquisitions of SVB in 2023 and CIT in 2022, First Citizens has grown while continuing its legacy of strength, stability and long-term thinking that has spanned generations.

"As First Citizens continues to grow, I look forward to strengthening our position as a company known for client centricity and our unique ability to serve our clients at every stage of their personal, business or entrepreneurial journeys," said Draper.

Before joining SVB, Draper spent nearly two decades at Charles Schwab as the company grew from 3,000 to 14,000 employees. As a member of the senior management team responsible for business-to-business enterprises, she oversaw a range of functions from advertising to brand management and client communications. She also served as a director of investor services segment marketing, and vice president of advisor services marketing programs, developing marketing strategies for both the retail and institutional sides of the business.

About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 500 branches and offices in 30 states; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.

Media Contact
Angela English
Angela.english@firstcitizens.com 

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SOURCE First Citizens Bank

FAQ

Who is the new Chief Marketing Officer of First Citizens Bank (FCNCA)?

Michelle Draper has been appointed as the new Chief Marketing Officer of First Citizens Bank (FCNCA).

What is Michelle Draper's previous experience before joining First Citizens Bank (FCNCA)?

Michelle Draper previously served as Chief Marketing and Sales Strategy Officer at Silicon Valley Bank (SVB) and spent nearly two decades at Charles Schwab in various marketing roles.

What recent acquisitions has First Citizens Bank (FCNCA) made?

First Citizens Bank (FCNCA) acquired Silicon Valley Bank (SVB) in 2023 and CIT in 2022, contributing to the company's growth.

How long has First Citizens Bank (FCNCA) been in operation?

First Citizens Bank (FCNCA) has been serving clients for more than 125 years, focusing on building financial strength for personal, business, commercial, and wealth clients.