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Citizens Financial Group in Providence, R.I., is expanding its commercial banking operations to lend to more midsize companies in more parts of the country.
August 13 -
Wells Fargo (WFC) has created a health care banking team within its corporate banking group.
March 5 -
Stimulus spending and Obamacare are making health care a viable way for banks to diversify their loan portfolios.
January 25 -
Huntington Bancshares hopes Daniel Storer's knowledge of banking, insurance and medicine will help it build a healthcare niche.
February 16 -
ServisFirst Bancshares in Birmingham, Ala., has launched a health care banking division.
January 22
Citizens Financial Group in Providence, R.I., has hired Russell Herakovich to lead the national expansion of its commercial health care banking group.
Herakovich was appointed managing director of the group which lends to corporate companies with annual revenues of at least $25 million on Thursday. Herakovich, who has 20 years of banking experience including 16 within the health care industry, will be based in Atlanta.
The $127 billion-asset company's commercial banking group
Before joining Citizens, Herakovich spent the last 12 years at GE Capital's Healthcare Financial Services business as a managing director and head of the corporate finance team in the Southeast and central U.S. He also previously worked at SunTrust Robinson Humphrey and First Union.
"Health care represents approximately 18% of the U.S. GDP and is clearly a growth sector," Herakovich said in a press release. Citizens "wants to aggressively grow its health care lending business, and I am thrilled to join such a strong team that is focused on helping our clients achieve their goals."
Royal Bank of Scotland, the parent company of Citizens, is in the process of