Citizens Financial Group is enhancing its wealth management division in California by integrating a new team of advisors in the San Francisco Bay Area. The group, which specializes in serving ultra-high-net-worth clients, had managed more than $5 billion in client assets at JPMorgan.
Leading the team of 12 are Rick Gordon, Hugh Beecher, and Andrew Curto, all seasoned professionals in the wealth management sector, whose high-profile clients include entrepreneurs, business founders, and real estate investors.
Brendan Coughlin, vice chair and head of consumer banking at Citizens, expressed enthusiasm about the new additions.
"We are excited to bring aboard one of the top California-based wealth teams to Citizens Private Wealth as we look to grow our business and better serve our clients," Coughlin said.
Citizens Private Wealth provides a comprehensive suite of services, including financial planning, investment management, estate and trust planning, as well as insurance and tax preparation services.
It works closely with the firm’s private bank, which Citizens launched last year, to offer integrated wealth management and banking solutions that simplify the financial lives of clients. The launch of that business, Citizens Private Bank, included hiring 200 bankers and adding more than a dozen financial advisors.
"The Citizens Private Wealth model perfectly aligns with our desire to deliver a client-focused and personalized experience to better serve our clients in all aspects of their financial life," said Gordon, whose record in the industry includes stints at First Republic Bank and Barclays.
"The Citizens platform is designed for high-caliber wealth managers like Rick, Hugh and Drew who are dedicated to meeting the complex needs of their clients,” said Tom Metzger, senior vice president of Citizens Private Wealth Management. “They bring the level of expertise and experience that is critical as we grow our private wealth practice.
The Friday announcement from Citizens follows closely after the news that Paul Casey, a former key leader at Morgan Stanley, will join the firm as the new head of wealth management in July.
The firm's CFO and EVP of Wealth Management Solutions are the latest executives to exit the broker-dealer.
Clients are saying they would consider switching advisors if another professional offered estate planning services, according to a new Trust & Will survey.
CEO Laurel Taylor says the fintech's composable AI stack helps workers optimize dollars across Trump Accounts, 529s, 401(k)s, and other employee benefits.
The bank has swiped three private banking veterans from BNY as the city climbs the ranks of America's fastest-growing wealth hubs.
Employee accounts, crypto trials and job cuts frame a pivotal year for the Swiss lender.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
