Citizens Financial Group, Inc. (NYSE: CFG) has announced the appointment of Ted Swimmer as the new Head of Commercial Banking, succeeding Don McCree. Swimmer, who previously served as the head of capital markets and advisory for Citizens Commercial Banking, has been credited with building a strong Capital Markets and Advisory business that consistently ranks as a Top 5 U.S. Middle Market Deal Bookrunner.
Under Swimmer's leadership, the bank has expanded its capabilities beyond traditional loan financing to provide a comprehensive set of solutions, including debt, equity, and M&A advisory across the client lifecycle. Swimmer's appointment comes as McCree is set to retire at the end of March 2026 but will remain at Citizens as Chair of Commercial Banking until then.
Citizens Financial Group, Inc. had $218.3 billion in assets as of June 30, 2025. The company offers a broad range of retail and commercial banking products and services, with approximately 3,000 ATMs and approximately 1,000 branches in 14 states and the District of Columbia.
Swimmer, a 30-year banking industry veteran, joined Citizens in 2010 and was named to Citizens’ Executive Committee in 2018. Prior to his tenure at Citizens, Swimmer held various senior positions with Wachovia, managing Leveraged Finance activities, Loan Syndicate and Sales, and serving as a managing director originating leveraged loans and bonds.
The appointment of Swimmer as Head of Commercial Banking reflects the company's commitment to building on its strengths and further growing the Commercial Bank, as stated by Bruce Van Saun, Chairman and CEO of Citizens Financial Group. Following these announcements, the company's shares moved 0.33%, and are now trading at a price of $54.00. For the full picture, make sure to review CITIZENS FINANCIAL GROUP INC/RI's 8-K report.
