RBS Citizens Financial Group in Providence, R.I., has appointed Tony Di lorio, a former chief financial officer for Deutsche Bank, to its board of directors.

Di lorio will continue to serve on the board of Citizens' parent, Royal Bank of Scotland. He has been on the RBS board since 2011.

Di lorio's "insights into the market dynamics affecting banks and their customers will be valuable to us as we continue making progress toward our goal of being a top-performing regional bank, "Citizens Chairman and Chief Executive Bruce Van Saun said in a press release Wednesday.

Di lorio brings with him years of experience at top financial institutions. He was co-controller of Goldman Sachs (GS) and chief financial officer of the capital markets division of NationsBank, which later became part of Bank of America (BAC). He joined Deutsche Bank in 2001, eventually rising to the position of CFO. After stepping down from the company in 2008, Di lorio worked as senior adviser to EY, the accounting firm formerly known as Ernst & Young.

The announcement comes as Citizens prepares for an initial public offering of part of the company by 2015. Van Saun said in November that Citizens plans to become fully independent within three years.

RBS may still be open to a takeover offer for Citizens, one report said recently. There have been mixed signals in recent months regarding the odds of an outright sale of Citizens to another bank. Meanwhile, RBS recently agreed to sell its Citizens branches in Chicago to U.S. Bancorp (USB) for $315 million.

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