Citizens Financial Group names John F. Woods new CFO

JOHN F. WOODS has been named the new chief financial officer and executive vice president of Citizens Financial Group Inc. / COURTESY CITIZENS FINANCIAL GROUP
JOHN F. WOODS has been named the new chief financial officer and executive vice president of Citizens Financial Group Inc. / COURTESY CITIZENS FINANCIAL GROUP

PROVIDENCE – Citizens Financial Group Inc. has found a new chief financial officer.
The Providence-based company has named John F. Woods as its new executive vice president and CFO. Woods will join Citizens from Mitsubishi UFJ Financial Group, a Japan-based company, where he serves as the company’s CFO of the Americas division based in New York.
Citizens current CFO, Eric Aboaf, is leaving at the end of this week to join Boston-based State Street Corp. Woods, who won’t join until February, will take over from John Fawcett, who’s coming out of retirement to cover as CFO in an interim capacity beginning Dec. 17.
“We are extremely pleased to welcome John to the leadership team as our new CFO,” said Bruce Van Saun, Citizens chairman and CEO. “He has a broad background in financial services, including experience in regional banking with MUFG Union Bank.”
MUFG Union Bank, a subsidiary of MUFG, is based in California, offering services in Washington and Oregon. Woods served as vice chairman and CFO of the company before joining the Americas division in 2013.
“John will hit the ground running in terms of contributing to our strategy, balance sheet management, efficiency initiatives and business partnership, as well as providing experienced leadership to our finance function,” Van Saun added.
Woods started his career in 1986 with Arthur Andersen, where he worked for 16 years. He’s also worked at other institutions, including JPMorgan Chase, Washington Mutual and Freddie Mac.
Details about Wood’s executive compensation were not immediately disclosed.
“I’m thrilled to join Citizens and contribute to a growth plan that is already delivering strong value for Citizens stakeholders,” Woods said in a prepared statement. “This is a very exciting time for Citizens and I look forward to partnering closely with Bruce and the leadership team to help drive further success.”
Citizens, with $147 billion in assets, is the largest Rhode Island-based bank.

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