Citizens Financial Group, Inc. (NYSE: CFG) has announced the appointment of Claude E. Wade to its Board of Directors, effective March 1, 2025. With over 30 years of experience in operational, strategy, and innovation roles at Fortune 100 companies, Wade currently serves as the executive vice president, Chief Digital Officer, and Global Head of Business Operations and Global Head of Claims at AIG. He will join the Board's Risk Committee, temporarily expanding the Citizens Board to 14 directors.
Wendy Watson, who has been serving on the Board since 2010 and currently chairs the Audit Committee, is set to retire from the Board after her current term expires at the annual meeting of shareholders in April 2025. Watson's retirement comes as she has reached the mandatory retirement age under the company’s Corporate Governance Guidelines.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $219.9 billion in assets as of June 30, 2024. The company offers a broad range of retail and commercial banking products and services, with approximately 3,300 ATMs and around 1,000 branches in 14 states and the District of Columbia.
In the period since the last report, the company's assets have remained consistent at $219.9 billion as of June 30, 2024. The number of branches and ATMs has also remained stable at approximately 1,000 branches and 3,300 ATMs, respectively.
The addition of Claude E. Wade to the Board of Directors and the upcoming retirement of Wendy Watson mark significant changes in the leadership of Citizens Financial Group, Inc., bringing in fresh expertise while bidding farewell to a long-standing member. Following these announcements, the company's shares moved 3.7%, and are now trading at a price of $42.21. For the full picture, make sure to review Citizens Financial's 8-K report.
