2 days ago
Citizens Bank parent recruits former State Street exec to be its next CFO
The back-and-forth is, to some extent, a reflection of the fact that Boston-based State Street and Providence-based Citizens are by far New England's largest remaining publicly traded banks. State Street is the bigger of the two, though it focuses on services for institutional customers, while Citizens is a general-purpose commercial and consumer bank.
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Citizens chief executive Bruce Van Saun said in a statement that Banerjee is a perfect fit for Citizens because of his leadership experience in financial services and his work overseeing 'transformation optimization programs' in the industry. His arrival comes as Citizens embarks on what Van Saun calls its 'Reimagining the Bank' initiative, aimed at using artificial intelligence to redesign key banking services.
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The announcement comes a few weeks after Barclays posted a brief video interview with Banerjee on LinkedIn.
'My passion really came from a quote which says, 'It's not the fastest or the strongest or the most talented team which wins all the time but the team which always wins is the team that believes it can,' ' Banerjee said in that spot. 'So my passion is to ensure that ... we build that winning spirit in a team.'
At the time, he was talking about Barclays. But pretty soon, he'll be putting his team-building skills to work at Citizens.
This is an installment of our weekly Bold Types column about the movers and shakers on Boston's business scene.
Jon Chesto can be reached at
