Citizens Financial Group in Providence, R.I., has hired Randall Black as chief accounting officer and controller.

Black, 59, will start work at the $138 billion-asset company on April 18. He will replace Ronald Ohsberg, who is leaving the company "to pursue other interests," Citizens said in a regulatory filing. Ohsberg will remain with Citizens through April 30 to help with the transition. Citizens' chief financial officer, Eric Aboaf, was named interim chief accounting officer.

Black was previously chief executive reporting to the claims administrator for the Deepwater Horizon Economic and Property Damages Settlement, which handles payouts for the 2010 Gulf of Mexico oil spill. Black has also previously worked for Citigroup and as the deputy chief accountant of the Office of the Comptroller of the Currency.

Black will receive an annual base salary of $400,000 and a variable compensation opportunity of $450,000. He will also get a buyout award roughly valued at $840,000 stemming from an award relating to his previous employment, which will be granted as deferred cash and as restricted stock units.

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.