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Joseph R. Dewhirst joins Citizens Financial Group as Group EVP for Balance Sheet Strategies

Industry veteran oversees asset liability and liquidity groups

PROVIDENCE, R.I.   (October 17, 2006) - Citizens Financial Group, Inc. has named Joseph R. Dewhirst Group Executive Vice President for Balance Sheet Strategies. Dewhirst oversees the bank’s Asset Liability Committee, Liquidity Group and is responsible for developing the company’s overall Balance Sheet Strategies. 

Dewhirst is based in Providence, R.I., and has also joined Citizens' Executive Policy Committee, the bank's senior leadership team.

“Citizens is proud to have Joe Dewhirst overseeing our balance sheet management. With Joe's outstanding expertise and leadership, we look forward to continuing our successful, strategic approach to risk and return,” said James Fitzgerald, Chief Financial Officer and Group Executive Vice President for Citizens Financial Group.

Dewhirst joined Citizens with more than 20 years experience in balance sheet management. Most recently, he was Treasurer of Bank of America, where he managed the asset liability group as well as the corporate and bank liquidity and capital positions. He joined Bank of America in 2004 during its acquisition of FleetBoston Financial. At FleetBoston, Dewhirst served as Corporate Treasurer following a number of portfolio and balance sheet management positions there and at predecessors Fleet and Bank of Boston.

Dewhirst is a graduate of Harvard University, where he earned a doctorate in social psychology and studied the emerging field of behavioral finance. He is also a graduate of Harvard College, where he received his Bachelor’s degree in psychology & social relations.

He resides in Sharon, Mass. with his family.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is a $164 billion commercial bank holding company. It is headquartered in Providence, R.I., and has more than 1,600 branches, approximately 3,200 ATMs and 26,000 employees. It operates its 13-state branch network in Connecticut, Delaware, Illinois, Indiana, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Vermont, and has non-branch retail and commercial offices in about 40 states. Citizens is the eighth-largest commercial banking company in the United States ranked by deposits and ninth ranked by assets as of March 31, 2006. Citizens is owned by RBS (The Royal Bank of Scotland Group plc).


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