5Q: Bruce Van Saun
Chairman and CEO, Citizens Financial Group Inc.
1. You’ve said this is a time to push forward, not pull back. What top investments will Citizens be making over the next year?
We are expanding our Consumer Bank in strategic markets like [the] New York metro and optimizing our branch network. In commercial banking, we’re enhancing capabilities and products to capture market share as deal activity grows. Our Private Bank continues to drive growth, with opportunities to scale, open new offices and deepen high-net-worth client relationships.
2. How are you balancing digital banking and artificial intelligence upgrades with the needs of traditional customers?
We’re investing heavily in digital innovation, from enhanced mobile onboarding and AI-driven personalization tools to cloud-enabled platforms that make banking faster and more intuitive. These upgrades allow us to meet evolving customer expectations while improving efficiency and security. At the same time, we know that customers also value personal relationships and in-branch experiences with human touch.
3. What role should banks play in helping Rhode Island employers attract and develop talent?
Banks sit uniquely at the center of the topic of workforce challenges. We’re in a good place to be helpful because we’re a convener; we see through our clients where the needs are, and we can connect them to nonprofits and public entities that are upskilling workers to meet demand. In September, we announced we would be investing $20 million across our footprint over the next three years to support workforce development, including $1.5 million for Rhode Island programs focused on upskilling for the AI era.
4. What are the biggest economic or regulatory risks you’re planning for?
The key to navigating uncertain environments is staying focused on fundamentals like strong leadership, prudent risk management, and commitment to innovation and adaptation. Inflation, rate volatility and regulatory shifts are top of mind. Our approach is to stay nimble, investing in technology and talent while maintaining disciplined risk management so we can deliver for customers and shareholders regardless of the macro backdrop.
5. What policy changes would best accelerate growth for midsized RhodeIsland businesses right now?
Strengthening Rhode Island’s business climate starts with ensuring our policies support growth. That includes thoughtful tax structures and incentives that encourage companies to invest in their workforce and physical presence here. Rhode Island is a small state that can be a regional leader when we all work together.
