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Citizens Snags $800M California Duo In Ongoing Wealth Push
Yahoo Finance· 2025-11-19 20:36
Core Insights - Citizens Financial Group has expanded its private wealth business in Southern California by adding an $880 million team led by Eric Bradley, previously from Citi Private Alternatives [1][2] - The newly formed Bradley Wealth Partners will focus on next-generation and ultra-high-net-worth clients, continuing to provide services such as financial planning, private banking, and commercial banking [2] - Citizens is actively increasing its private wealth advisor headcount and assets under management, having recently acquired teams from Bank of America and Flagstar Advisors [3][4] Company Expansion Efforts - The firm has made strategic hires to bolster its private bank and wealth divisions, including a recent addition of a team managing $900 million in client assets from Merrill [4][5] - In its first quarter earnings report, Citizens reported a $22 million increase in salaries and employee benefits, reflecting hiring related to the expansion of its Private Bank and Private Wealth divisions [4] - Citizens' wealth division reported $28 billion in assets under management, marking a 21% increase year-over-year [4]