Comerica appoints Kristina Janssens chief risk officer

Comerica names Kristina Janssens chief risk officer

September 19, 2025 4:23 PM

In this week's banking news roundup: Comerica promoted Kristina Janssens to be its next chief risk office; Washington Trust hired Berkshire Bank's James "Jim" Brown as its chief commercial banking officer; Citizens Financial pledged $20 million to support workforce development programs; and more.

Comerica promotes from within to fill C-suite job

Comerica named Kristina Janssens as its next chief risk officer, the fourth person to hold the job at the Dallas-based bank in the past two years.

Janssens, who was most recently Comerica's chief compliance officer, started today as chief risk officer. She reports to Curtis Farmer, chairman and CEO of Comerica, and to the board of directors' enterprise risk committee, the bank said this week in a press release.

Janssens succeeded Melinda Chausse, who began serving as Comerica's interim chief risk officer in May when Brian Goldman left Comerica for the same job at USAA. Goldman was hired by Comerica to be its risk chief in late 2023. He replaced Jay Oberg, who retired from the bank.

Prior to joining Comerica in 2023, Janssens was the chief compliance and privacy officer at Flagstar Bank in Michigan. Her promotion comes as Comerica is being pressured by an activist investor to sell itself. —Allissa Kline

Washington Trust hires top executive from Berkshire

Rhode Island-based Washington Trust has hired an executive from Berkshire Bank as its chief commercial banking officer.

James "Jim" Brown will oversee all commercial banking activities at Washington Trust, the company said in a press release. His portfolio will include commercial & industrial lending, commercial real estate and the bank's private clients group.

Brown, who has more than 38 years of industry experience, has done stints at several Boston-area banks, including Shawmut Bank, State Street Bank and Boston Private Bank.

In Washington Trust's press release, Chairman and CEO Edward "Ned" Handy III touted Brown's "proven track record, extensive network, regional insight and expertise, and a shared commitment to helping local businesses thrive."

Brown's most recent job was as head of commercial and private banking at the Boston-based banking unit of Berkshire Hills Bancorp, which recently merged with Brookline Bancorp. The merged company has been renamed Beacon Financial. —Kevin Wack

Citizens Bank Branches Ahead Of Earnings Figures

Michael Nagle/Bloomberg

Citizens Financial commits millions to workforce development

Citizens Financial Group in Rhode Island pledged $20 million to support workforce development programs, it said in a press release.

The bank's commitment, which will run from 2026 to 2028, will support nonprofits that focus on educational and career opportunities while responding to the needs of the economy and strengthening economic mobility across the bank's footprint. The bank plans to work with national nonprofits such as Year Up United and Education Design Lab, as well as "hundreds" of local groups, the release said.

Last year and this year, Citizens deployed about $10 million to workforce development programs.The funding provided access to upskilling, reskilling and career development.

"With this new $20 million investment, we will build on the strong progress we've made in expanding access to training and career pathways and helping people gain the skills they need to succeed in a rapidly changing environment," Citizens CEO Bruce Van Saun said in the release. —Allissa Kline

Brian Porter, newly elected to the board of directors at State Street.

Ex-Canadian bank CEO joins State Street’s board

The former president and CEO of the Bank of Nova Scotia is the newest member of the board of directors at State Street, the Boston-based bank said in a press release.

Brian Porter, 67, was elected to State Street's board on Sept. 15, bringing the total number of directors to 12. He will serve on the board's human resources and risk committees, according to a regulatory filing.

Porter will receive a pro rata share of both the cash and common stock awards paid to State Street directors for the 2025-2026 service year, the filing said. The annual retainer is $110,000 and the common stock retainer is worth $235,000.

Ron O'Hanley, chairman and CEO of State Street, said in the press release that Porter "has extensive experience in global markets, with a strong focus on clients and a track record of innovative leadership."—Allissa Kline

Bank of America raises its minimum wage to $25

BofA

Bank of America boosts minimum wage

Bank of America has raised its company's minimum wage, the bank announced this week. The change brings the lowest hourly wage at BofA to $25 per hour, adding up to an annualized salary of more than $50,000.

The increase, which will take effect in October, fulfills a pledge that the bank made in 2021. It will apply to all hourly positions in the United States, BofA said, raising the incomes of thousands of employees.

"Our strong and rising minimum starting salary provides opportunities for our teammates to build a long-term career at Bank of America," Sheri Bronstein, BofA's chief people officer, said in a statement. "Competitive compensation is one of the many ways we are helping to drive American economic growth and opportunity." —Nathan Place

Rhinebeck Bancorp appoints new president and CEO

POUGHKEEPSIE, NY — Matthew J. Smith has joined Rhinebeck Bancorp as its new president and CEO, the bank said in a Tuesday press release. Former President and CEO Michael J. Quinn, who announced his retirement in March, will serve as interim executive advisor through the end of the year to assist in the leadership transition.

Smith's distinguished career in financial services is marked by innovation, growth and leadership, the bank said in the release. Most recently, he served as senior EVP and COO of Columbia Financial and Columbia Bank in Fair Lawn, New Jersey. He has held senior roles at Webster Bank in Stamford, Connecticut; Sterling National Bank in Montebello, New York; Bridgewater Associates; and GE Capital where he led strategic growth initiatives and multiple functions across finance, technology and operations.

Rhinebeck Bank has been an integral part of the area's economic growth and a driving force for commerce along the Hudson River. —Editorial Staff

RBC names Citigroup’s Duffield head of equity-linked origination

Royal Bank of Canada has hired long-serving Citigroup banker Rich Duffield to lead its equity-linked origination efforts. The convertible bonds veteran will join RBC as head of equity-linked origination, having spent 17 years at Citigroup, according to an internal memo from Jim Wolfe, RBC's head of global investment banking capital markets and Nitin Babbar, the bank's global head of equity capital markets.

The banker, who began his career at Bear Stearns, is set to join RBC in November as a managing director, the memo shows. He will be based in New York.

"Elevating our equity-linked franchise is a key strategic priority for us given the importance of the product in providing holistic financing solutions to our clients and we are thrilled Rich will be joining us to lead the effort," Wolfe and Babbar said.

An RBC spokesperson confirmed the contents of the memo. —Anthony Hughes, Bloomberg News