Citizens Financial Welcomes Claude E. Wade to Board of Directors

Citizens Financial Group Welcomes Claude E. Wade

Citizens Financial Group, Inc. (NYSE: CFG) has announced an exciting addition to its Board of Directors with the appointment of Claude E. Wade. This strategic move will take effect on March 1, 2025, temporarily increasing the board's size to 14 members. Wade will be a key player on the Board's Risk Committee, bringing valuable insights derived from extensive experience in the industry.

Claude E. Wade: A Leader in Digital Innovation

Claude E. Wade arrives with a wealth of experience, showcasing an impressive career spanning over 30 years. His roles have predominantly included operational leadership, strategic development, and innovation within Fortune 100 firms. Presently, he holds the title of Executive Vice President and Chief Digital Officer at AIG. In this capacity, Wade is responsible for overseeing various vital areas, including business operations and claims management, as well as digital solutions and data-driven innovations.

A Proven Track Record

Before his tenure at AIG began in 2021, Wade played a pivotal role at BlackRock. Serving as the Global Head of Client Experience and spearheading the Atlanta Innovation Hub, he worked diligently to enhance the company's global distribution ecosystem, significantly improving the digital experience for clients and promoting revenue retention along with operational efficiency.

Appreciation for Wendy Watson's Service

In a parallel announcement, Citizens Financial also revealed that board member Wendy Watson will retire as her current term concludes at the company’s annual shareholder meeting, scheduled for April 2025. Watson, an esteemed member of the board since 2010, has significantly contributed to the organization, serving as the chair of the Audit Committee and participating in the Risk Committee as well as the Compensation and Human Resources Committee.

Leadership Transition

Bruce Van Saun, the Chairman and Chief Executive Officer, expressed gratitude for Watson's leadership and her invaluable contributions, particularly noting her outstanding tenure during a transformative phase for Citizens Financial. Her commitment and expertise have left a lasting impact on the board and the organization's direction.

Claude Wade's Professional Background

Before his notable experience at BlackRock, Wade dedicated eight years to Marsh LLC and Guy Carpenter & Company, both integral components of Marsh McLennan. His multifaceted leadership roles there equipped him with comprehensive knowledge and skills relevant to the financial services landscape. Wade's credentials also include being a Lean Six Sigma Black Belt and a certified Agile Scrum Master. Academically, he earned his MBA from New York University's Stern School of Business and a Bachelor of Arts in Finance from Pace University.

About Citizens Financial Group, Inc.

Citizens Financial Group is recognized as one of the nation's longstanding and largest financial institutions, boasting $219.9 billion in assets. With its headquarters in Providence, Rhode Island, Citizens provides a diverse array of banking products and services tailored to meet the needs of individual and institutional clients alike. The company's consumer banking division offers seamless access to mobile and online banking, complemented by an extensive network of ATMs and branches spanning several states. In the commercial sector, Citizens delivers a comprehensive suite of financial solutions, including leasing, treasury management, foreign exchange, and capital markets capabilities. Citizens Financial is committed to understanding its customer’s unique requirements to offer tailored solutions that empower their financial journey.

Frequently Asked Questions

Who is Claude E. Wade?

Claude E. Wade is the newly appointed member of the Citizens Financial Group Board of Directors, effective March 1, 2025, bringing extensive experience in digital innovation.

What role will Wade play on the Board?

Wade will serve on the Board’s Risk Committee, utilizing his expertise to enhance oversight and strategic decision-making.

What is Wendy Watson's contribution?

Wendy Watson has been a director since 2010 and served as chair of the Audit Committee, having made significant contributions to the organization's governance.

Why is Wendy Watson retiring?

Wendy Watson is retiring due to reaching the mandatory retirement age established in the company's Corporate Governance Guidelines.

What does Citizens Financial Group offer?

Citizens Financial Group provides a broad range of retail and commercial banking products, focusing on understanding customer needs to deliver tailored financial solutions.

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