Senior treasury executive leaves Citizens

PROVIDENCE – A senior treasury officer at Citizens Financial Group who also served as director at the Federal Home Loan Bank of Boston has resigned from both positions, according to a regulatory filing.
Edward Novakoff was senior vice president of treasury at both Citizens Financial and its subsidiary RBS Citizens N.A. He had been at the bank for five years and was based at Citizens’ Providence headquarters.
The resignation came to light in a FHLB filing with the U.S. Securities and Exchange Commission last week. Novakoff notified the FHLB, which provides low-interest funding for home loans to banks, that he would be stepping down because board members are required to be an officer of a member bank.
He was one of two Rhode Island representatives on the FHLB board – NewportFed President and CEO Kevin McCarthy is the other.
Novakoff worked at FleetBoston Financial for 11 years before joining Citizens. He previously had worked at Bank of New England and Fleet Bank.