Citizens Financial Group Inc. last month announced the hiring of Stephen Robb, who is now managing director of corporate finance for Citizens Commercial Banking.
Robb, who is based in Providence, most recently worked with Morgan Joseph TriArtisan’s Retail Consumer and Leisure Group in New York City. He also previously worked as managing director at Cantor Fitzgerald, Sonenshine Partners and at Credit Suisse, where he served as an investment banker.
A Cranston-resident, Robb talks with Providence Business News about what his new job entails, why he joined Citizens and what he thinks of the Rhode Island commercial banking market.
PBN: Congratulations on your new position as managing director in corporate finance for Citizens Commercial Banking. Can you please tell our readers a little bit about your new responsibilities with this job?
ROBB: I work with my middle market banking colleagues to help our clients achieve their strategic and financial goals by bringing them innovative solutions. We are focused on helping our clients grow revenue, reduce costs and manage their risk, and we offer a broad range of services and solutions.
PBN: What’s your professional background and how did you end up with Citizens?
ROBB: Before moving to Providence, I spent over 20 years on Wall Street, both at a major international bank and at smaller firms. During that time, I’ve had the opportunity to work on a broad variety of transactions with clients around the world and across the country, in practically every industry. I became interested in Citizens after talking to former colleagues of mine who worked for The Royal Bank of Scotland, who introduced me to people at Citizens. This is a very exciting time for Citizens – it’s great to be with a bank that is growing its business and doing a great job for its customers.
PBN: You most recently worked with a merchant and investment group in New York City, what skills did you learn there – or elsewhere in your career – and how will they help you at this new job?
ROBB: As I mentioned earlier, I’ve had the opportunity to work with companies across many industries. I’ve also had the great fortune to work on many significant transactions. In my more recent past, I’ve worked primarily with middle market clients, which, personally, I find to be even more rewarding than working on headline-generating transactions with bigger companies.
What I’ve learned over time is that every situation is unique, and every client deserves the best that a firm can deliver. I’ve learned that keeping an open mind, listening carefully to our clients, and trying to think creatively, are keys to success. Our clients are passionate about their businesses, and what I love about Citizens is that I find a similar level of passion in my colleagues here.
PBN: Joining the middle market banking team, what’s your opinion of Rhode Island and southern Massachusetts middle market and how does it differ from other states – such as New York – where you’ve worked before?
ROBB: What has struck me here at Citizens is the breadth of great Rhode Island companies that we have amongst our clients. Technology, manufacturing, marketing, retailing, transportation/logistics, consumer products, and craft brewing are among the industries I’ve already seen in my short time with the bank. There are many entrepreneurs building successful businesses in the region, which is very exciting.
PBN: What – if any – advantages does working with Citizens now give you in middle market/commercial banking? Why?
ROBB: I see three principal advantages. First, Citizens is the largest bank headquartered in New England. Our senior management is here, we are committed to the area, and we are a market-leading bank in the region. I believe our clients appreciate our commitment to them, and to the region as a whole.
Second, the middle market team at Citizens is very talented. Our bankers have strong, long-standing relationships with their clients, and have seen them through good times and bad. The Citizens team is a pleasure to work with on a daily basis.
Finally, the bank has committed itself to growing and providing a broader array of services to our clients. As an example, our capital markets effort went from virtually nothing to becoming one of the top 10 loan syndication teams in the middle market in just the last four years. My work in corporate finance is integral to that effort – providing creative ideas and innovative solutions to our clients.
