RBS Financial Corporation
The official name of the RBS Financial Corporation is the RBS Citizens Financial Group, Inc. It is ranked 19th on the United States Federal Reserve System National Information Center's Top 50 Bank Holding Corporations report.
The report lists the total assets of this corporation as $129,963,640,000 as of March 31, 2012. As of December 31, 2011, its total assets were $129,810,542,000. It is a wholly-owned subsidiary of the Royal Bank of Scotland Group. The web site for the corporation, http://www.citizensbank.com/about-us/, refers to it as Citizens Financial Group or CFG.
History of Citizens Financial Group
CFG had its beginning in 1828 in Providence, Rhode Island, as the High Street Bank. A savings bank, called Citizens Savings Bank, was created in 1871. The decline in the importance of Providence caused the bank to look for places to expand. The name changed to Citizens Trust Company in 1948 and it had branched out statewide by 1981.
The corporation became Citizens Financial group in 1980 and a new office headquarters building was constructed in Providence. The corporation became a wholly-owned subsidiary of the Royal Bank of Scotland in 1988. Thirty acquisitions occurred after that decision, five of them transformed the corporation. One acquisition, the Fairhaven Savings Bank in Massachusetts, brought retail banking to the corporation. Some banks acquired by the corporation had been in existence since the early eighteenth and nineteenth centuries.
A national presence followed the acquisitions of Mellon Financial Corporation in 2001 and Charter One in 2004. Charter One alone had many branches in both New York and the Midwest. Today, according to its web site, "through its subsidiaries (it) has more than 1,500 branches, approximately 3,900 ATMs and more than 20,900 employees."
Accolades for Citizens Financial Group
New Hampshire Business Review awarded their Best of Business Award in 2012 to CFG as the best commercial lender. TNS, a major marketing consulting firm, awarded its Choice Award to this corporation in 2011. The year 2011 saw ten other awards and many were both state and citywide.
The headquarters of Citizens Financial Group is:
One Citizens Plaza
Providence, RI 02903
Telephone number 401-456-7000
Middletown Corporate Offices
237 Main Street
Middletown, CN 06457
Telephone number 860-638-4411
State Street Office
28 State Street
Boston, MA 02109
Telephone number 800-852-5577
875 Elm Street
Manchester, NH 03101
Telephone number 800-862-5000
Albany, NY 12207
Telephone number 800-252-2500
1701 John F. Kennedy Boulevard
Telephone number 267-671-1000
1 Citizens Drive
Riverside, RI 02915
Telephone number 401-456-7000
148 College Street
Burlington, VT 05401
Telephone number 802-658-9681
Chairman and CEO is Ellen Alemany. David Bowerman is the vice chairman of RBS Citizens Business Services. Brad L. Conner is the vice chairman of consumer banking, Citizens Financial Group, Inc.
To quote the corporation's web site, the corporation credo is:
- Customers: We work for them.
- Colleagues: We want to be a rewarding place to work.
- Community: When the community prospers, we all prosper.
In addition the award for the Best Adoption-Friendly Workplace in 2009 and 2010 by the Dave Thomas Foundation and New York honored the corporation in 2010 for their support of Meals on Wheels and for its commitment to helping the senior community in that year.