The British government's rescue of The Royal Bank of Scotland last year has thrust Ellen Alemany, the head of its U.S. operations, into an unfamiliar role: turnaround specialist.

It's a challenge Alemany, the chief executive of the $121 billion-asset Citizens Financial Group in Providence, R.I. and RBS Americas has heartily welcomed. Indeed, when the British-based parent company nearly collapsed under the weight of over-expansion and bad investments, Alemany was the first division executive to present to RBS Group's CEO a strategy for restructuring business units and ensuring future profitability. Alemany then began shaking up the management team, unloading branches, exiting business lines and introducing innovative new products.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.