A global pandemic. Economic free fall. Hundreds of billions of dollars in government relief funneled through banks. A reckoning over racism and inequality. We will not be the same after this — and neither will banking.
The second-largest bank in Minnesota is fighting to stay independent — literally. It is locked in a bitter legal battle to block one of the state’s biggest charitable givers from selling the shares it has owned for 75 years.
Emerging technology, changing consumer behavior, demographic shifts — an array of forces will reshape the economy and the industry in the years ahead. Those forces are largely outside the control of banks.
It wasn’t long ago that the Providence, R.I., company was struggling to remain relevant. Thanks to Van Saun and his management team — and a well-timed spinoff from Royal Bank of Scotland — Citizens is on the rise.