PROVIDENCE – Citizens Financial Group Inc. CEO and Chairman Bruce Van Saun told Rhode Island business leaders that companies prepared to invest in talent and technology – while staying disciplined amid policy and economic uncertainty – will emerge strongest from current economic disruptions.
“We are in a period where the world is shifting fast: geopolitics, technology, regulation, capital,” Van Saun said during a "fireside chat" at the Greater Providence Chamber of Commerce’s annual meeting on Tuesday night. “In moments like this, you don’t pull back. You scenario-plan, you pick your lane and press forward with conviction.”
The event, which drew hundreds to the R.I. Convention Center, came as Providence-based Citizens continues to push deeper into wealth management and accelerate its digital transformation efforts.
Van Saun said Citizens’ decadelong strategy, which has been building a scaled consumer bank, expanding middle-market commercial banking, and adding a national wealth franchise, has positioned the institution as “the best-placed super-regional bank in the country.”
Neither Van Saun nor Chamber Chairman Rick Metters, who led the discussion with Van Saun, mentioned President Donald Trump, but the shadow of his administration and the government shutdown seemed to loom.
In an apparent reference to actions out of Washington, D.C., Van Saun acknowledged “heightened policy volatility and global crosscurrents,” but he urged companies not to let uncertainty “paralyze long-term thinking.”
“Everyone sees inflation, rate swings, political churn,” he said. “But you cannot freeze. The businesses that come out stronger are the ones that invest in customer experience, talent and productivity tools now.”
He pointed to Citizens’ recruitment of wealth-management talent following the First Republic Bank collapse in May 2023 as evidence that strategic bets in turbulent environments can pay off.
“We didn’t get the First Republic assets, and that’s probably a blessing,” he said. “We earned the people. We added capability without inheriting the baggage.”
Van Saun also highlighted Citizens' "Reimagine" program: a multiyear effort to rebuild banking processes with artificial intelligence and automation at the center.
“This is not about buzzwords,” he said. “It's about rethinking how work gets done and freeing colleagues to solve more meaningful problems.”
He also emphasized that automation efforts are focused on improving service and shifting employees into higher-value roles, not simply cutting staff.
“You start with the customer journey and work backward,” Van Saun said. “[Artificial intelligence] will handle routine tasks. Our people will handle trust, relationships and advice.”
Even with the impending departure of Hasbro Inc., a longtime pillar of Rhode Island’s business community, Van Saun said Citizens is actually strengthening its local investment.
“We are part of this community. We were born here, and we are staying here,” he said.
He praised recent state efforts to improve tax competitiveness and workforce development, saying Rhode Island is “leaning in on business climate in a way that matters.”
“We need to show pride in the momentum here,” Van Saun said. “Talent, innovation, partnership – those are real strengths.”
Citizens has stepped up regional workforce training commitments as part of a multiyear, companywide skills initiative. Van Saun noted that the bank logged roughly 250,000 volunteer hours last year, calling community engagement “non-negotiable.”
Van Saun expects the economy to stabilize “into a more normal rhythm” by late 2025 or early 2026, with productivity gains driven largely by AI forming the backbone of long-term growth.
“This is a transformational moment,” he said. “Those who stay disciplined, stay curious and stay committed to their people and customers will win.”
He concluded with advice for business leaders facing rapid change: “Challenge your assumptions. Don’t fear the technology: embrace it with purpose. And keep showing up for your community. That’s how you build resilience.”
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
