Citizens appoints two directors in lead-up to planned IPO

PROVIDENCE – Citizens Financial Group Inc. on Monday announced the appointment of LPL Financial Chairman and CEO Mark Casady and Royal Bank of Scotland Group non-executive director Robert Gillespie to its board of directors.
Casady, who had served since 2005 as chairman and CEO of LPL Financial, the largest U.S. independent broker/dealer, is also a current member of the board of governors for the Financial Industry Regulatory Authority and the boards of directors for the Financial Services Roundtable, EZE Software Group and Cushing Academy.
Previously, Casady was managing director of the mutual-fund group for Deutsche Asset Management Americas, formerly Scudder Investments. Prior to Scudder, he held roles at Concord Financial Group and at Northern Trust.
Casady holds a B.S. from Indiana University and an MBA from DePaul University in Chicago.
“Mark brings to us considerable knowledge of consumer distribution strategies, with particular expertise in the wealth management business,” said Bruce Van Saun, chairman and CEO of Citizens. “He also has experience in taking a financial services company public, having successfully executed LPL Financial’s IPO in 2010.”
Citizens is in the process of separating from its parent, Royal Bank of Scotland, and has announced a planned 25 percent IPO later this year, with the bank expected to be fully public by 2016.
Gillespie began his career as an accountant with PricewaterhouseCoopers before moving into banking at SG Warburg, where he specialized in corporate finance. In 1989, he was appointed co-head and managing director of Warburg’s U.S. investment banking business, and following Warburg’s acquisition by UBS in 1995, he held roles as head of U.K. corporate finance, head of European corporate finance and CEO of the EMEA region.
Gillespie left UBS in 2010 to join Evercore Partners, where he was director general of the U.K. panel on takeovers and mergers, before joining the RBS Group board of directors in 2013, Citizens said.
“As RBS’s nominated director, Robert joins the board well-versed in our strategy and he also brings extensive industry knowledge and significant regulatory expertise,” said Van Saun. “We look forward to the contributions of each of our new directors as we move forward with our strategy of providing a great banking experience for our customers and delivering for our stakeholders.”

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