Five Questions With: Quincy Miller

"We are growing this business and helping an increasing number of companies not only access the capital that they need, but also manage their cash flow in new ways that result in increased profits and fewer headaches for the ownership team."

Citizens Financial Group Inc. this month named Quincy Miller bank president of Massachusetts. Miller, who’s been with the bank for nearly a decade, has served as the state’s director of retail branch banking and as president of business banking – a position he will continue to hold.
Miller takes over from outgoing Massachusetts bank president Jerry Sargent who is moving on to the bank’s middle market business across its multi-state footprint. Miller talked with Providence Business News about his new role at Citizens Bank.

PBN: Congratulations on being named Mass. president for Citizens, will you tell our readers a little bit about how you got to where you are today and what makes you the right fit for the job?
MILLER:
I joined the bank in 2006 and previously served as Massachusetts director of retail branch banking. I currently serve as president of business banking throughout our 11-state footprint, from Massachusetts to Michigan. I feel very fortunate to have been given opportunities to grow my skills as a banker and a leader over the course of my career and this new role is allowing me to draw on those experiences. At the end of the day, our job is simple: to provide Citizens Bank customers with the best possible banking experience. My role is to help facilitate that and to make sure that we have the right approach to meeting the needs of our stakeholders in Massachusetts. This is a very exciting time for all of us at Citizens as we separate from RBS and become a standalone public company and I’m honored to be able to serve as Massachusetts state president.

PBN: Is it correct that you will continue your role as president of Business Banking? How will you effectively split your time between these two positions?
MILLER:
Yes, I will continue to head up business banking, which serves small and medium businesses with annual revenue of up to $25 million. We are growing this business and helping an increasing number of companies not only access the capital that they need, but also manage their cash flow in new ways that result in increased profits and fewer headaches for the ownership team. It’s very gratifying to know that we are helping small and mid-sized companies grow – these kinds of companies are the real job creators in our economy, and their success creates opportunities for others. At the same time, my work as Massachusetts state president is focused on the full breadth of Citizens’ business and our community efforts in Massachusetts. Luckily, I have two great teams helping me — I definitely couldn’t do it alone. Citizens has a very deep bench of talented leaders, which is part of what makes working here so fun as we grow the bank and continue to improve our performance as a company.

PBN: What role do you see Massachusetts playing in the future success of Citizens?
MILLER:
Massachusetts is a very important market for Citizens. Citizens is the second-largest bank in the state by number of deposits and we have a lot of individual, business banking and commercial banking customers here. The Massachusetts economy is strong and very diverse. We have deep roots in Massachusetts and there is a lot of opportunity for us to continue to grow here.

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PBN: Where are some key areas of growth within the state that you think Citizens could tap into?
MILLER:
Massachusetts is experiencing growth in the industrial, manufacturing, health care and technology sectors and we also have a solid foundation in education, hospitals and services. Our commercial banking and business banking clients in Massachusetts are growing and taking advantage of the strength of this balanced economy. On the consumer side, our One Deposit Checking offering continues to be very successful in Massachusetts – people like the simplicity of knowing that they can eliminate the maintenance fee by making just one deposit per statement period. Given the number of colleges in Massachusetts, our student lending business is very active here. We are the only national bank in the country that is helping consumers refinance both their federal and private student loans. So if you think not just about the college students in Boston but all of the college graduates working here in industries like life sciences and technology, you can imagine the incredible demand that we’re seeing for that product in Massachusetts.

PBN: What are the biggest challenges you think the bank faces now and in the future and how do you plan to address these challenges in Massachusetts?
MILLER:
This is a very competitive industry, and Massachusetts is a place where some of the biggest banks in the world are actively trying to grow. We are in a strong position here because we have invested in our ability to deliver a great banking experience, whether the customer is planning for retirement, applying for a mortgage, or putting together the financing for a complex corporate transaction. Having made those investments and developed a solid plan to grow our business, our success now rests on the quality of our execution. If we continue to execute well for our customers and to keep them at the center of everything we do, we will continue to be successful.

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