Updated September 3 at 8:03am

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Citizens Financial appoints industry veteran as new chief of home lending

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PROVIDENCE – Citizens Financial Group Inc. has hired a new chief of its home lending business as the Providence-based company plans to expand further its mortgage division in the coming years.

Cheryl Nolda will oversee the residential mortgage and home equity business as president of Citizens Financial’s Home Lending Solutions unit. A 27-year financial services veteran, Nolda joins Citizens after 12 years at Atlanta-based SunTrust Mortgage Inc.

The appointment comes as Citizens Financial, parent to Citizens Bank – Rhode Island’s largest bank by deposits – says it continues to expand its mortgage business to meet demand.

The banks said it plans to hire 400 loan officers by 2013, adding that it has already hired 100 in the past year.

In 2009, Citizens Financial said, it increased its mortgage lending volume by 167 percent compared with a year earlier. Citizens said its lending volume remains strong because of refinancing applications. The company is the 18th-largest retail mortgage lender in the nation, Citizens said.

“We are excited to have Cheryl join our growing mortgage team,” said Brad Conner, Citizen Financial’s vice chairman for consumer finance. “She is an industry leader who brings a wealth of experience to our organization and the customers we serve. Her leadership and depth of knowledge will serve our customers and organization well as we continue to expand this important business.”

Nolda will be based in Richmond, Va., and will be a member of Citizen Financial’s Executive Leadership Group.

Citizens Financial Group Inc. – a division of the Edinburgh-based Royal Bank of Scotland Group plc. (London Stock Exchange: RBS.L; NYSE: RBS) – is a commercial bank holding company founded in Providence in 1828. It has $140 billion in assets and about 22,700 employees at 1,500 Citizens Bank and Charter One branches in 12 states plus non-branch offices in about 40 states, most of which Citizens Financial operates through its RBS Citizens NA subsidiary. Additional information is available at CitizensBank.com and www.rbs.com.

Citizens Financial Group Inc., Cheryl Nolda, work force, citizens bank, mortgage

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