Citizens Financial Promotes Griggs to Chief Risk Officer
Citizens Financial Group in Providence, R.I., has named a new chief risk officer.
Malcolm Griggs' appointment will take effect April 1, the $138 billion-asset company said Wednesday. Griggs will report to Chairman and CEO Bruce Van Saun.
Griggs has been Citizens' chief credit officer since December 2014. Previously he was head of business risk and controls for Citigroup's U.S. commercial and consumer banking businesses.
It is too early in the Providence, R.I., bank's turnaround plan to buy another bank, CEO Bruce Van Saun says. Instead, he would rather invest in acquiring commercial, mortgage and other loan officers who can feed revenue while he tries to make the bank more efficient.
MassachusettsEastern Bank has hired the Massachusetts market president of Citizens Bank, Quincy Miller, to be its chief banking officer.
Griggs will succeed Nancy Shanik, who had been Citizens' chief risk officer since 2010. She will retire on May 31, after assisting with Griggs' transition and with Citizens' stress-test submission to the Federal Reserve.