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Citizens appoints Girard R. Sargent to President, Citizens Bank, Massachusetts

BOSTON, M.A. (November 15, 2010) -  Citizens Financial Group, Inc. today announced that Girard R. Sargent, Citizens Bank Executive Vice President and Commercial Banking Division Executive, has been appointed President of Citizens Bank, Massachusetts. Sargent succeeds Stephen R. Woods, who recently was named Head of Corporate Banking for CFG. Woods will continue to report to Vice Chairman Robert D. Matthews who heads Commercial Banking for CFG.

Sargent, 48, joined CFG in 1999 as a Senior Vice President and has most recently led the bank’s Middle Market Banking business unit in Massachusetts, serving customers with annual sales of $25 million to $500 million.

"Jerry has been in the industry for more than 25 years and has been active in the bank’s civic, philanthropic and community activities," said Ellen Alemany, Chairman and CEO of CFG. "We look forward to growing the Massachusetts franchise under his leadership."

In addition to his responsibilities as State President in Massachusetts, Sargent will oversee a number of the bank’s commercial business units including Middle Market Banking in Northern New England (MA, NH, VT, ME), Mid-Corporate Banking in New England and Massachusetts Specialized Banking. In this capacity, he will report to Woods, who will remain based in Boston.

"Jerry is an experienced banker and has done an exemplary job managing one of our largest commercial divisions. He knows this market as well as anyone in the business," said Matthews.

Prior to CFG, Sargent spent eight years with State Street Bank, developing its Commercial Banking Business in New York, Vermont and Canada. His banking career began at Shawmut Bank in 1985 where he spent time in various commercial divisions including Middle Market, Commercial Real Estate Finance, International and Large Corporate.

Sargent serves on the executive committee of MassEcon, a statewide group focused on economic development issues facing the Commonwealth. He also serves on the board of trustees of the Massachusetts Taxpayers Foundation and the board of visitors of Lawrence Academy in Groton.

Sargent is a graduate of Bowdoin College with a bachelor’s degree in Economics. He resides in Tyngsborough with his wife and three children.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is a $136 billion commercial bank holding company. It is headquartered in Providence, R.I., and, through its subsidiaries, has more than 1,500 branches, approximately 3,800 ATMs and approximately 22,600 employees. Its two bank subsidiaries are RBS Citizens, N.A. and Citizens Bank of Pennsylvania. They operate a 12-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont, and the Charter One brand in Illinois, Michigan and Ohio. CFG has non-branch retail and commercial offices in about 40 states. CFG is owned by RBS (The Royal Bank of Scotland Group plc).