Winning Through Relationships: Citizens' Strategy for Sustained Success in NYC's Banking Arena

Citizens Private Bank officially opened its newest office in New York City with a grand opening event on September 30, marking a strategic expansion into the heart of global finance and a reaffirmation of the bank's commitment to partnership, community investment, and differentiated service.

As competition intensifies across both traditional and emerging financial institutions, Citizens continues to lead with a relationship-first approach, recognizing that long-term success is built on trust, proximity, and shared vision. The new flagship office reflects an investment in client experience and a statement of intent in one of the world's most competitive banking markets. Citizens CEO Bruce Van Saun noted that "New York is big, but it's a series of local communities. We take that local approach, and we're making good inroads doing that." Planting a flag in New York, he added, was a deliberate and exciting decision.

To celebrate the occasion, Citizens hosted Private Bank and Commercial clients at a Fireside Chat with Bruce Van Saun and a panel discussion featuring a lineup of industry leaders from banking, private equity, venture capital, and entrepreneurship. The conversations were candid, insightful, and forward-looking, offering a rare glimpse into how personal relationships and collaboration continue to drive value across private equity and private banking.

Competing in Financial Services Requires Vision and The Commitment to Invest

In a wide-ranging conversation with Yahoo Finance host Julie Hyman, Bruce Van Saun began by reflecting on the current macroeconomic environment. Despite earnings growth, many companies remain cautious. Businesses are carrying solid balance sheets yet appear hesitant to invest amid continued uncertainty in trade policy. Credit utilization relative to the business cycle remains below historical norms, and many firms are choosing to wait rather than lean into growth.

Van Saun observed that, despite corporate caution, markets are being propelled by a wave of technological innovation. While tech firms race to develop new tools, companies across industries are exploring how these innovations, particularly generative and agentic AI, can enhance customer service and reinvent business models. This momentum, he suggested, is fueling investor optimism even as broader macro volatility persists.

Technology and Trust: A Balanced Approach

Against this backdrop, Van Saun discussed how Citizens is positioning itself to compete with digitally native fintech and neo-banks, as well as traditional banks entrenched in markets like New York. He emphasized that Citizens' strength lies in its ability to combine scale with service. The bank is large enough to offer best-in-class capabilities, yet nimble enough to deliver them with a high degree of personal attention. "Our version of banking – being close to our customers, understanding their needs, and being part of their communities – is what gives us the right to win here," he said.

Citizens is also leaning into the rapid advancements in technology as a strategic opportunity, including exploring how AI collaboration can enhance service delivery and operational efficiency. Van Saun emphasized that AI should be a productivity multiplier, not a replacement for people, and that Citizens is committed to helping its workforce upskill and adapt to the future of banking. Van Saun noted that Citizens has maintained a stable workforce size even as its business has expanded. "We have an obligation to our people to make sure they have avenues to invest in themselves," he added.

The Human Connection is Still Fundamental to Financial Leadership

The panel discussion brought together industry and client voices from private equity, venture capital, banking, and entrepreneurship to explore how strong financial relationships drive both business success and personal wealth. The conversation revealed a shared belief: while the right technology is required to compete at today's pace, trusted partnerships matter more than ever.

Client Voices: Prioritizing Relationships in Banking

Clelia Peters, Managing Partner at Era Ventures, and Erik Hirsch, Vice Chairman of Hamilton Lane, spoke about the importance of working with financial institutions that understand their business models and can deliver both strategic insight and responsive service. Both emphasized the value of continuity and collaboration, especially during moments of market stress, such as the regional bank failures of 2023.

Brendan Coughlin, President of Citizens Bank, reflected on his 21-year tenure and how consistency builds trust with clients. "Banking is still human," he said. "We sell intangible goods to clients. This is a service business, and particularly for the clients in this room, banking is human and relationship-oriented."

Coughlin emphasized the importance of building a firm that great bankers and wealth managers want to stay with and eventually retire at. "You just can't deliver the service we aspire to if you have a rotating turnstile of different advisors," he said, "tenure is incredibly foundational to getting this service model right."

He also addressed the role of technology and AI in enhancing relationships. "The easy stuff just needs to be easy, one click away" he said. "But when you want to talk about retirement planning or generational wealth transfer, that's not going to happen with AI. That's when our people need to come in."

Eli Manning, who made the leap from a celebrated NFL career into the business world through private equity relationships, reflected on the importance of strategic partnerships. "It's not always easy. It takes time, it takes effort," he said. "But Citizens has been right there. You want to align with people that you can trust, believe in what they're doing, share the same vision, and work toward a common goal."

Relationships That Drive Results

While Citizens Private Bank has planted a flag in New York, the firm continues to expand outward, leading with its focus on serving clients holistically. "There's a real sweet spot here. Only a handful of banks in the U.S. can truly unite commercial banking, private banking, wealth management, and investment banking around the client, and we're doing it," said Coughlin.

The NYC opening event marked an exciting milestone in Citizens' journey as it continues to win with the fundamentals that matter most: service and trust. Learn more about how Citizens Private Bank builds enduring partnerships with clients and start a conversation with our team.