PROVIDENCE, R.I.--(BUSINESS WIRE)-- Citizens Financial Group, Inc. (NYSE: CFG) today announced a definitive agreement to purchase select assets and liabilities of Paladin Advisors, an independent, registered investment advisor headquartered in Kensington, New Hampshire. This acquisition strengthens Citizens’ presence in an important geography, while bringing additional investment capabilities to the Clarfeld | Citizens Private Wealth team.

“This acquisition will strengthen our wealth management business, as we gain additional reach and Paladin’s fresh asset allocation investment strategy, which complements our established approach,” said Chris Weyrauch, Head of Citizens Wealth Management. “We’re excited to welcome such a talented team and have them join our well-regarded, fast growing wealth management platform.”

“Guided by a philosophy of accountability, transparency and consultation, Paladin prioritizes careful investment management and comprehensive financial advice for discerning clients who are looking for personalized wealth management services,” said Karen Parker Feld, CEO, Paladin Advisors. “We will expand upon that mission with Citizens, bringing additional services to clients, a difficult-to-replicate value proposition for any independent advisor.”

The transaction is expected to close in the third quarter of 2022, subject to customary closing terms and conditions. Upon closing, Paladin Advisors will become part of Clarfeld | Citizens Private Wealth.

About Citizens Financial Group, Inc.Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $192.1 billion in assets as of March 31, 2022. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,300 ATMs and approximately 1,200 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.

Forward-looking statements “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This communication contains “forward-looking statements” — that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” or “target.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include the failure to consummate this transaction or to make or take any filing or other action required to consummate any such transaction on a timely matter or at all. These or other uncertainties may cause our actual future results to be materially different from those expressed in our forward-looking statements.

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Media: Steve Brownell — steve.brownell@citizensbank.com

Investors: Kristin Silberberg - 203.900.6854

Source: Citizens Financial Group, Inc.