Clarfeld | Citizens Private Wealth Names Rick Suarez CEO
TARRYTOWN, N.Y., Jan. 13, 2020 /PRNewswire/ -- Clarfeld | Citizens Private Wealth, a subsidiary of Citizens Bank, has named Rick Suarez to succeed firm founder Rob Clarfeld as Chief Executive Officer. The new appointment comes one year after the successful acquisition by Citizens Bank of this premier wealth management firm serving high-net-worth families and institutions.
To ensure continuity of culture and direction, Rob Clarfeld will remain with the firm he founded as Executive Chairman. In that role he will be focusing on strategic initiatives, brand stewardship and client service.
"Rick and I have worked together since 1996 when he first joined us as a financial planner," said Rob Clarfeld. "We are fully aligned in terms of our client-centric service philosophy and shared vision to create the industry's premier private bank. Rick is widely respected for his leadership and execution skills and I have complete confidence in his ability to steward the firm in the coming years."
A longtime member of both Clarfeld's Executive Committee and Investment Policy Committee, as co-COO Suarez is responsible for building and managing all aspects of the firm's investment advisory service for both U.S. and offshore clients.
"I'm truly humbled that Rob and the management team at Citizens Bank have entrusted me with this important position," said Suarez. "Rob has been a terrific mentor to me throughout my career and, along with my partners, I look forward to advancing the high-touch service model he has created."
Under Suarez's leadership Clarfeld Citizens Private Wealth will continue to provide excellence in client service for which it is already well known, while expanding and deepening the number of clients who benefit from its financial, tax and estate planning, family office, banking, and trust services.
"We have completed the integration of Clarfeld and Citizens Wealth Management, and are now serving clients as a combined team delivering the range of solutions that we outlined early in 2019," said John Bahnken, CEO and president of Citizens Bank Wealth Management. "Additionally, we are delighted that Rob will continue on with our business as Executive Chairman, and Rick is completing the transition to president and CEO."
Suarez, 49, holds an MBA in Finance from Pace University's Lubin School of Business, and is a Certified Financial Planner. He serves as a director for The Boys & Girls Club of Northern Westchester. He resides in Westchester with his wife Donna and their three children.
Concurrent with these changes Robert A. Varriano, a 29-year veteran with the firm, assumes the role of sole Chief Operating Officer. Robert holds both the CPA and CFP designations.
About Clarfeld | Citizens Private Wealth
Clarfeld Financial Advisors, LLC, a leading wealth management firm and multi-family office founded by Rob Clarfeld in 1981 to offer innovative solutions designed for the complex needs of high-net-worth individuals, families and foundations. In January 2019, Clarfeld Financial Advisors joined Citizens Bank, resulting in the addition of banking, lending and trust services to its broad array of high-end financial solutions. It is headquartered in Tarrytown, New York and provides private bank and wealth management services through offices across eleven states.
Citizens Bank is a subsidiary of Citizens Financial Group, Inc., one of the nation's oldest and largest financial institutions, with $164.4 billion in assets as of September 30, 2019. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 2,900 ATMs and approximately 1,100 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services, including lending and deposits, capital markets, treasury services, foreign exchange and interest rate products and asset finance. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook
Clarfeld | Citizens Private Wealth offers Investment Management Services through Clarfeld Financial Advisors, LLC, an SEC registered investment adviser. Insurance products are offered through Estate Preservation Services, LLC, or an unrelated party. Clarfeld Financial Advisors, LLC and Estate Preservation Services, LLC are both affiliates of Citizens Bank, N.A. Deposit and credit products are provided solely by Citizens Bank, N.A., Member FDIC.
Forward-Looking Statements
"Safe Harbor" Statement within the meaning of the Private Securities Litigation Reform Act of 1995: This communication contains "forward-looking statements" — that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," or "target." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include the failure to consummate this transaction or to make or take any filing or other action required to consummate any such transaction on a timely matter or at all. These or other uncertainties may cause our actual future results to be materially different from those expressed in our forward-looking statements.
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SOURCE Clarfeld Citizens Private Wealth
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