Citizens Financial Group has tapped Morgan Stanley veteran Paul Casey to lead its wealth management and new private banking unit as the $222 billion-asset Citizens builds out its advisory business with a handful of top leaders.
Casey was with Morgan Stanley for nearly 22 years, last as the managing director and marketing executive of the firm's private wealth management office in New York City, overseeing roughly $90 billion in client assets. He will take the helm as Citizens' head of wealth management and private banking on July 9, the company said in a press release on April 15.
"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," Brendan Coughlin, vice chair and head of consumer banking at Citizens, said in the release. "His experience in building a world-class Private Wealth business at one of the top firms in the U.S. will be invaluable as we aspire to build a preeminent Private Wealth offering."
Citizens Financial, based in Providence, Rhode Island, launched its private banking unit last fall and has been growing rapidly by hiring industry veterans like Michael Cherny as head of Citizens Wealth Management Advisors and Tom Metzger as head of Citizens Private Wealth Managers. Both Cherny and Metzger were wealth management leaders at J.P. Morgan.
READ MORE:
Casey will be based in New York City and will report to Coughlin.
"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," Coughlin said. "I am confident Paul will help us realize the full potential we have in front of us."
— Rachel Witkowski/Financial Planning
