PROVIDENCE – Citizens Financial Group Inc. is accelerating its push into Southern California’s wealth market, unveiling a veteran Los Angeles private-banking team and plans for new offices in Beverly Hills and the South Bay, the bank announced Oct. 29.
The push marks the latest step in the bank’s West Coast expansion as it courts high- and ultra-high-net-worth clients in one of the country’s most competitive wealth hubs.
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The group is led by private-bank veteran Michele Piccirillo and includes relationship managers Jeremy Cramer, Lisa Lemons, Jonathan Durante, Petros Altunyan, Sarah Perahia, Jodie Weiss, Brian Litman and Mary Deckebach.
The team specializes in bespoke deposit and lending solutions for clients in entertainment, real estate, construction lending, philanthropy and technology, providing what Citizens calls high-touch, “white-glove” service.
“Our clients aren’t shy to tell us what they want, and they have made it clear they would like Citizens Private Bank in Los Angeles. The addition of this highly esteemed team allows us to extend our high-touch, integrated banking capabilities to clients in the market and throughout the state,” said Susan deTray, head of Citizens Private Bank.
“This team shares our legacy and passion for providing best-in-class client service and has a proven track record of partnering with regional real estate investors, founders and businesses,” deTray continued. “We are delighted to welcome their clients home, and I have the utmost confidence the team will uphold the extraordinary caliber of service Citizens Private Bank has become synonymous with, in California and beyond.”
The LA expansion comes amid rapid growth for Citizens’ private-bank push. The division now tallies $12.5 billion in deposits and $5.9 billion in loans and continues to build out its California footprint.
Last year, Citizens hired a 12-person private-banking team in Newport Beach and San Diego, led by Executive Market Director Victor Mena, following its 2023 Bay Area launch.
New offices in Newport Beach and San Diego are slated to open in November and December, with Los Angeles to follow. Citizens said the hubs will anchor a long-term strategy to serve wealthy clients across Southern California and deepen relationships in a region it sees as a key growth market.
“We are excited to join Citizens Private Bank at this pivotal moment of growth in the Los Angeles market and help build upon a legacy of exceptional service,” Piccirillo said. “Citizens’ integrated model and extensive capabilities enhance our team’s ability to provide clients with a truly holistic experience, addressing their comprehensive private banking, wealth and commercial banking needs.”
Citizens is also expanding its wealth-advisory ranks, adding a Los Angeles team led by veteran adviser Mike Shayestehfar. The group focuses on comprehensive planning – from retirement and estate strategies to insurance, tax planning, philanthropy and multigenerational wealth.
The latest hires underscore Citizens’ strategy of bulking up talent as it plants deeper roots in California, pairing private-banking capabilities with broader wealth-management services across the state.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
