M&A

Bruce Van Saun, the Rhode Island bank’s CEO, previewed a branch-light strategy in new markets like South Florida and Washington, D.C. Citizens recently closed acquisitions of Investors Bancorp and much of HSBC’s U.S. retail banking business.

In a letter obtained by American Banker, the Senate Banking Committee chair called on the Federal Reserve and Office of the Comptroller of the Currency to reform their bank merger review processes.

Vernon Hill, Ellen Alemany and Joseph Otting are among the executives whose careers took a turn after their company was acquired. Here’s a look at what eight CEOs did after their time atop a bank ended.

The proposed combination of Vermont State Employees Credit Union and New England Federal Credit Union would create a $3 billion-asset institution. Some past leaders worry that the deal will erase one institution's local touch.

The North Carolina bank’s earlier $60 billion plan, which was tied to the BB&T-SunTrust merger, is set to expire this year. Its new efforts are a sign that such deals aren't always one-off arrangements meant to grease the rails for an acquisition.

The Federal Reserve's unanimous approval is a win for the Rhode Island company, though it will have have to take part in an additional round of stress tests in 2023.

In a survey last month, only one in 10 chief executives identified mergers as their top priority, while 77% pointed to organic growth. The sparse interest in dealmaking may be due to volatile markets, along with slower approvals from regulators.