Citizens Financial Group has named Paul Casey as its head of wealth management, effective July 9 2024.

His role as head of wealth management will focus on accelerating Citizens’ momentum in wealth following the launch of Citizens Private Bank in 2023.

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In addition, Casey will lead the bank’s wealth management and private wealth management arms, serving the mass affluent, high net worth and ultra high net worth clients. He will also report to Brendan Coughlin, vice chair and head of consumer banking.

Casey brings more than two decades of experience from Morgan Stanley where he most recently held the role of managing director for the flagship New York office.

“Paul is an experienced and well-rounded wealth management executive with a proven track record of success and has a long runway here at Citizens,” said Coughlin. “His experience in building a world-class Private Wealth business at one of the top firms in the US will be invaluable as we aspire to build a preeminent private wealth offering.”

Coughlin added: “We’ve been on a journey to build a world-class wealth management business for several years and have generated solid momentum. The launch of our new private bank supercharged Citizens’ ability to scale our wealth business, elevating our brand image and attracting some of the industry’s top talent to our platform. I am confident Paul will help us realise the full potential we have in front of us.”

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Citizens Financial opened its first private banking location in Boston and intends to open more locations in 2024, including a spring location in Mill Valley, California, and a location in Palm Beach, Florida.

Following the establishment of its new private bank and employing of 200 bankers in 2023, Citizens has strengthened its wealth leadership group with the hire of Tom Metzger as head of Citizens private wealth managers and Michael Cherny as head of Citizens wealth management advisers.