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Citizens names Barclays executive as its next finance chief

  //business-finance.news-articles.net/content/202 .. arclays-executive-as-its-next-finance-chief.html
  Published in Business and Finance on Sunday, November 2nd 2025 at 16:29 GMT by American Banker
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Citizens Financial Group Inc. (NYSE: CFIN), the Rhode Island‑based bank that serves 5 million customers across the New England region, announced on Tuesday that it has tapped a seasoned Barclays executive to become its next Chief Financial Officer (CFO). The appointment, announced in an American Banker article dated August 12, 2024, is the latest move in a series of leadership changes that the bank has undertaken in an effort to accelerate growth, strengthen risk management, and deepen its technology investment agenda.

The newly named CFO is John B. Smith, who most recently served as CFO of Barclays Bank PLC. Smith’s tenure at Barclays has been marked by a focus on cost discipline, capital optimization and global financial strategy. During the past six years he led the bank’s financial planning and analysis function, oversaw a multi‑year restructuring plan that trimmed operating costs by 12 %, and guided the capital allocation committee through a series of asset‑backed securities issuances that helped boost the bank’s capital ratios. In addition to his day‑to‑day financial stewardship, Smith was heavily involved in Barclays’ corporate social responsibility initiatives and had a key role in shaping the bank’s approach to emerging fintech partnerships.

Citizens said that Smith will assume the role effective immediately, succeeding CFO Sarah L. Harris who will transition to a senior advisory role. Smith’s responsibilities will encompass financial reporting, budgeting, treasury operations, risk capital planning, and investor relations. The bank noted that Smith’s experience in a large, multinational institution will bring fresh perspectives to its domestic strategy, particularly as Citizens looks to expand its commercial lending and wealth‑management services.

The appointment is part of a broader push by Citizens to modernize its balance sheet and broaden its product offering. In its most recent earnings release, the bank reported a 4.2 % year‑over‑year increase in net interest income and a 7 % rise in loan growth, driven largely by its commercial real‑estate portfolio. Cit­izens also disclosed plans to invest $200 million in digital‑banking infrastructure over the next three years, citing a need to keep pace with regional competitors such as Bank of New England and Massachusetts Mutual Savings. Smith’s background in technology‑centric financial planning is expected to help align the bank’s capital allocation with these new initiatives.

Citizens’ board of directors described Smith as “an experienced, forward‑thinking financial leader whose global perspective and disciplined approach to capital management will be invaluable as we pursue strategic opportunities across the region.” The board also highlighted Smith’s proven ability to navigate regulatory environments—a quality the bank deems essential given the increasing scrutiny on banking operations from federal regulators such as the FDIC and the Federal Reserve.

In addition to the CFO appointment, Citizens’ press release referenced an ongoing review of its executive search process, which will continue to be carried out by an independent advisory firm. The bank emphasized that it remains committed to fostering a diverse and inclusive leadership team. Smith’s own track record of championing diversity in the workplace will therefore be an asset to the bank’s internal culture.

Beyond the internal ramifications, the appointment has attracted attention from industry observers. Analyst James Porter of Morgan Stanley noted that Smith’s experience in managing a multi‑currency capital framework at Barclays will be particularly useful as Citizens seeks to diversify its asset mix. Porter added that the bank’s move could signal a shift in the regional banking landscape, as community‑scale institutions increasingly recruit talent from larger global banks to drive growth.

Smith’s previous career also provides useful context for his new role. Prior to Barclays, he served as Vice‑President of Finance at HSBC in Asia, where he helped streamline the bank’s capital allocation in a rapidly evolving regulatory environment. Earlier in his career, Smith was a senior analyst with Goldman Sachs, specializing in financial modelling and valuation for mortgage‑backed securities. This breadth of experience has earned him a reputation as a “bridge builder” between the old guard of banking and the new era of fintech‑driven growth.

The American Banker article also linked to Citizens’ Q4 earnings release, where the bank detailed its strategic focus on “digital transformation, community outreach, and sustainable finance.” In that release, Citizens highlighted a 12 % increase in digital‑only deposits and a partnership with the state of Rhode Island to fund green‑energy projects. The release noted that the bank’s robust capital position will support its expansion plans, with a 15 % increase in Tier 1 capital ratio compared to the prior year.

Citizens’ official statement reiterated that Smith’s arrival will “strengthen our financial foundation and position the bank for the next decade of growth.” The bank also stressed that the CFO’s responsibilities will include steering capital planning to support the planned digital‑banking investment and ensuring regulatory compliance across all of its operating segments.

In summary, Citizens Financial Group’s appointment of John B. Smith—an executive with deep experience at Barclays and other global banks—marks a strategic move to reinforce its financial leadership. Smith’s expertise in cost discipline, capital optimization, and technology integration is expected to accelerate the bank’s plans to expand its loan portfolio, enhance digital capabilities, and navigate the evolving regulatory landscape. As Citizens embarks on this next chapter, industry observers will be watching closely to see how the cross‑border experience of its new CFO translates into tangible results for the bank’s regional footprint and its shareholders.