RBS Citizens may
add 800 employees

RBS Citizens is considering adding 800 employees in positions including loan originators for small- and mid-sized businesses and in wealth management divisions, according to Boston Business Journal. More

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financial services

RBS Citizens may
add 800 employees

BLOOMBERG FILE PHOTO/KELVIN MA
Van Saun told Boston Business Journal he sees opportunities to do more auto lending, student lending and home equity lending outside the bank’s current footprint, but there are no plans to expand the Citizen’s branch network into new territories.
Posted 12/10/13

BOSTON – RBS Citizens is considering adding 800 employees in positions including loan originators for small- and mid-sized businesses and in wealth management divisions, according to the bank’s CEO Bruce Van Saun, the Boston Business Journal reported Dec. 3.

Van Saun took the helm of the Providence-based RBS Citizens Oct. 1, arriving in the U.S. from the parent Royal Bank of Scotland. He has been traveling across Citizens’ 12-state footprint to assess his new territory and plan for a 25 percent IPO of Citizens at the end of 2014 and for the bank to be fully public by 2016.

While hiring is in the plans, Van Saun said the total number of employees could be fewer by 2016.

Van Saun told Boston Business Journal he sees opportunities to do more auto lending, student lending and home equity lending outside the bank’s current footprint, but there are no plans to expand the Citizen’s branch network into new territories.

RBS Citizens has 5,400 employees in Rhode Island and 19,000 in the U.S.

RBS Citizens got a $70 million bailout from the British government in 2008 and the pressure on the bank to return taxpayer money.

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