PROVIDENCE – Citizens Bank announced Wednesday it has established a “West Region” commercial banking operation to expand its corporate banking capabilities in the western United States.
The Providence-based bank has named David Musicant as the leader of its West Region operation. He’s based in Los Angeles.
Citizens’ West Region team will serve the bank’s existing and new corporate banking clients in Arizona, California, Nevada, Oregon, and Washington. Previously, Citizens announced the West Coast expansion of its commercial real estate business.
“Establishing the West Region builds off the great success we have had in the Southeast Region at expanding the Commercial Bank beyond Citizens’ traditional retail footprint,” Steve Woods, head of corporate banking at Citizens, said in a statement.
“It is a natural extension for Citizens Commercial Banking and will enable us to continue our current strong momentum and grow our client base,” he added.
Also Wednesday, Citizens announced Jim Malz as its new Midwest Region executive and Ohio president. He’s based in Cleveland.
“Dave [Musicant] and Jim [Malz] are both proven leaders in their regions who have long track records of building and leading corporate banking teams and fostering strong partnerships with clients,” Woods said.
Citizens said the moves bring “additional local focus and expertise to bear as Citizens continue to grow its nationwide roster of corporate clients.”
Citizens spokesman Frank Quaratiello said the West Region announcement was “more of a formal recognition of the work that is already being done there” by Citizens’ commercial banking personnel in the western U.S. That includes people stationed in San Francisco and Arizona.
Musicant is the only new hire on Citizens’ west coast commercial banking team.
In his newly created position, he is charged with growing Citizens’ corporate banking business in various industries such as health care, information technology, media and entertainment, aerospace and defense, transportation, engineering and construction, gaming and lodging, and consumer retail and restaurants.
Musicant’s team will focus on “middle market” companies – those with at least $500 million in annual revenue, Quaratiello said.
Musicant has more than 30 years of banking experience and most recently served as a managing director of Fifth Third Bank, where he led its geographic expansion on the West Coast. Prior to that, he had a 20-year career at Union Bank, most recently serving as group head of its Specialized Industries/Expansion Markets team, Citizens said.
In the Midwest, Malz joins Citizens after an 18-year career with JPMorgan Chase & Co., where he most recently head of its Middle Market Banking and Specialized Industries business in Ohio.
At Citizens, Malz succeeds Joseph Giampetroni, who is leaving to pursue other opportunities, the bank said.
In addition, Malz succeeds Ralph M. Della Ratta as Citizens’ Ohio president. Della Ratta will continue in his role as co-head of Citizens Capital Markets Inc.’s mergers and acquisitions advisory business.
Scott Blake is a PBN staff writer. Email him at Blake@PBN.com
