Citizens Financial Group expands leadership in Florida

  • Investing.com
Citizens Financial Group expands leadership in Florida

PROVIDENCE, R.I. - Citizens Financial Group, Inc. (NYSE: NYSE: CFG ) has appointed Jim Weiss as the new Florida market president, a move aimed at strengthening its local leadership and expanding its market presence in the state. Weiss brings over three decades of banking experience to his new role at Citizens, where he will be based in Tampa.

Weiss's extensive career includes his most recent position as regional president at Busey Bank, where he oversaw Commercial, Wealth, and Retail businesses in Florida. Before joining Busey Bank, he had a significant tenure at Fifth Third Bank, spending 16 years in various roles, notably leading the Commercial business throughout Florida.

Citizens Financial Group, with a workforce of approximately 270 colleagues, operates five retail branches and two wealth centers in Florida. The company emphasizes providing a superior experience and solutions to support the state's residents and businesses.

Weiss's appointment follows the establishment of Citizens' inaugural Private Bank office in Palm Beach earlier this year. In his new role, Weiss will work closely with teams from Citizens' Private Bank, Wealth Management, Capital Markets & Advisory, Business Banking, and Retail Banking to offer expertise to both new and existing clients in Florida.

Steve Woods, head of corporate banking at Citizens, expressed confidence in Weiss's ability to connect Florida business owners with Citizens' services, emphasizing the company's commitment to supporting the community's growth and wealth building.

Citizens Financial Group positions itself as a strategic and financial advisor, focusing on client-centric solutions and market expertise. The company, headquartered in Providence, Rhode Island, holds $220.4 billion in assets as of March 31, 2024. It provides a wide array of banking products and services to various customer segments, including retail and commercial banking, through a network of approximately 1,000 branches and 3,300 ATMs across 14 states and the District of Columbia.

The information in this article is based on a press release statement from Citizens Financial Group.

InvestingPro Insights

As Citizens Financial Group, Inc. (NYSE: CFG) bolsters its presence in Florida with the appointment of Jim Weiss, the company's financial health remains a key factor for investors and clients alike. According to InvestingPro data, Citizens Financial Group currently boasts a market capitalization of $16.58 billion, with a Price to Earnings (P/E) ratio of 13.03, reflecting investor sentiment about the company's earnings potential.

InvestingPro Tips indicate that Citizens Financial Group has been a consistent performer in terms of returning value to shareholders, maintaining dividend payments for 11 consecutive years. This consistency is underscored by a robust dividend yield of 4.61% as of the last twelve months leading up to Q1 2024. Additionally, the company's stock is trading near its 52-week high, signaling strong market confidence, which is further supported by an impressive 36.64% price uptick over the last six months.

The company's strategic focus on client-centric solutions and market expertise is mirrored in its financials, with a notable 16.17% price total return over the last three months. Such performance metrics are relevant for stakeholders considering the company's recent expansion efforts and leadership enhancements in the Florida market. For those interested in deeper financial analysis and additional insights, InvestingPro offers a wealth of information, including more InvestingPro Tips for Citizens Financial Group at https://www.investing.com/pro/CFG. To access these insights, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and discover the 6 additional tips listed in InvestingPro that could guide your investment decisions.

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