Citizens Financial Group (CFG) has expanded its wealth management business by launching its premier banking business in Michigan and Ohio.
The launch extends CFG’s personalized approach to banking to current and prospective Charter One customers with investable assets of $500,000, in addition to access to personalized financial strategies, which include investments and insurance services from Charter One Investment Services.
The business will give Charter One customers access to preferred rates on checking, money markets and CDs, discounted home equity rates, exclusive debit cards with higher cash withdrawal limits and checks and credit cards with concierge services.
As part of the move, Charter One has recruited a team of branch-based personal bankers to serve the Michigan and Ohio markets.
According to Citizens Financial, premier banking will be offered at 30 branches in Michigan, primarily in the Detroit suburbs, and 33 branches in Ohio, primarily in the Cleveland suburbs, Akron and Canton.
The launch of Premier Banking in Michigan and Ohio comes as CFG plans to expand wealth management business across the bank’s 12-state retail footprint under the Citizens Bank and Charter One brands.
Mike Millard, president and CEO, for Charter One and Citizens Wealth Management, said: "This is a rapidly growing part of our customer base in the mid-west and other markets as more and more of our customers seek to simplify their financial lives by consolidating their accounts and other services with one team that they know and trust."
Maggie Wall, head of premier banking, said: "As single points of contact for Premier Banking customers, our personal bankers specialize in developing a full view of a customer’s holdings and making it easier for customers to manage their assets and plan for the future."