Citizens Republic Announces Retirement of Ronan, Head of Wealth Management; Kenneth Duetsch II Appointed New Director of Wealth Management Division
FLINT, Mich., Aug. 2, 2011 /PRNewswire/ -- Citizens Republic Bancorp (Nasdaq: CRBC) announced today that Peter Ronan, executive vice president and head of the corporation's wealth management division, will be retiring effective March 31, 2012. Ronan joined Citizens in October 2007.
As a successor, Citizens has named Kenneth (Ken) Duetsch II executive vice president and director of Citizens Bank Wealth Management for the corporation effective August 2, 2011. Duetsch joined Citizens in 1999. Prior to accepting this promotion, he served as senior vice president and chief investment officer of Citizens Bank Wealth Management. In his new role, Duetsch will report to Cathleen (Cathy) Nash, president and chief executive officer.
"During his tenure with Citizens, Pete was able to sustain and continue profitability within our wealth management division during one of the most challenging economic downturns in history," said Nash. "His strong leadership, sales and fiduciary experience were essential during this time. I wish him all the best in his retirement."
Nash continued, "We are pleased to name Ken as the director of our wealth management division. Having served as an integral member and leader of the wealth management division for nearly 12 years, Ken is well qualified to lead our wealth management activities. It is also important to note that Ken has been instrumental in creating and implementing our investment strategy that we use in the wealth management division today."
Duetsch joined Citizens in 1999 as a portfolio manager in charge of institutional trust accounts. In 2007, he was promoted to senior vice president and chief investment officer of Citizens Bank Wealth Management. Prior to joining Citizens, Duetsch was vice president and senior fixed income portfolio manager with Northern Trust in Chicago. Responsibilities included managing and trading securities for over $4.5 billion in assets. Before Northern Trust, Duetsch spent six years with the First National Bank of Chicago in trust and investments. From 2003-2007 he served as a faculty member of the ABA Trust School at Northwestern and Emory Universities.
Duetsch earned a bachelors of science in finance from Central Michigan University and an MBA, with distinction, from DePaul University. He has earned the Chartered Financial Analyst designation, is a Certified Financial Planner, a Certified Investment Management Analyst, and an Accredited Investment Fiduciary. Duetsch is a member of the CFA Institute (formerly AIMR), the Investment Management Consultants Association and the Investment Analysts Society of Detroit. Duetsch sits on the Board of Directors for the Boys and Girls Club of Greater Flint, the YMCA of Greater Flint and has been involved with many other non-profit organizations.
Citizens Republic Bancorp, Inc. is a diversified financial services company providing a wide range of commercial, consumer, mortgage banking, trust and financial planning services to a broad client base. Citizens serves communities in Michigan, Ohio, Wisconsin and Indiana with 220 offices and 249 ATMs. Citizens is the largest bank holding company headquartered in Michigan with roots dating back to 1871 and is the 55th largest bank holding company headquartered in the United States. More information about Citizens Republic Bancorp is available at www.citizensbanking.com.
SOURCE Citizens Republic Bancorp