PROVIDENCE – Citizens Financial Group Inc. has announced that Edward “Ned” O. Handy III has been appointed president of its Rhode Island division to replace Joseph J. MarcAurele, who is leaving to join The Washington Trust Co. on Sept. 21.
Handy, 47, is currently president of Citizens’ Providence-based commercial real estate finance unit, Citizens Real Estate Finance, and will retain those responsibilities after assuming the new post. Handy also is a member of Citizens’ Executive Leadership Group.
“I am honored to have this opportunity and look forward to joining my Rhode Island colleagues in supporting the customers and communities we have the privilege of serving throughout the state,” Handy said in a statement.
Handy joined Citizens in 1995 as a commercial banker in Rhode Island. From 1999 to 2004, he was president of Citizens Bank in Connecticut, and from 2004 to 2008 he was president of Citizens subsidiary Charter One in Ohio. Before joining Citizens, Handy spent 10 years at Fleet Financial Group in Providence. He received his bachelor’s degree in urban studies from Brown University.
“With nearly 25 years banking experience, including numerous leadership positions within Citizens Financial Group, and a passion for supporting community organizations, Ned’s talents and experience as a business and community leader will not only benefit our Rhode Island operations, but the community organizations, initiatives and customers we serve here as the state’s largest bank,” Ellen Alemany, Citizens’ chairman and CEO, said in a statement.
Alemany also offered kind words to MarcAurele, who is in line for the top job at Washington Trust. “We thank Joe for his leadership and contributions to Citizens,” she said. “During his tenure, he earned the respect of his colleagues and the community, and I wish him well.”
Citizens Financial Group Inc. – a subsidiary of the Edinburgh-based Royal Bank of Scotland Group plc. (LSE: RBS.L; NYSE: RBS) – is a commercial bank holding company founded in Providence in 1828. It has $167 billion in assets and about 23,000 employees at 1,450 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 or RBS.com.
Correction: An earlier version of this story gave incorrect information about the date of Edward "Ned" Handy's appointment as president of Citizens Bank Rhode Island. He was appointed July 24.