Citizens Financial appoints new head of Enterprise Strategy

PROVIDENCE, R.I. - Citizens Financial Group, Inc. (NYSE: CFG), currently trading at $35.57 with a market capitalization of $15.59 billion, has announced the appointment of Azra Pravdic as the head of Enterprise Strategy, a role she will assume on May 12. Pravdic will be reporting directly to both John Woods, Vice Chair and Chief Financial Officer, and Bruce Van Saun, Chairman and Chief Executive Officer. Her position on the bank’s Executive Committee will involve oversight of strategy, corporate development, customer experience, innovation, sustainability, and the implementation of an agile operating model. According to InvestingPro data, the bank maintains a "Fair" overall financial health score, suggesting stable operational performance.

Pravdic joins Citizens with a notable background from McKinsey & Company, where she served as a Partner and was deeply involved in the Financial Services practice. Her expertise includes a focus on customer-centric growth strategies, commercial excellence, and process transformation. She has also worked on enhancing customer experience through strategic planning and journey decisioning.

Bruce Van Saun expressed confidence in Pravdic’s abilities to contribute to the Executive Committee, emphasizing her innovative approach to corporate growth and customer engagement. John Woods highlighted Pravdic’s leadership qualities and her role in driving the bank’s strategy towards prudent and sustainable growth.

Her career in the financial sector began at J.P. Morgan Chase, followed by her tenure at McKinsey’s New York office starting in 2011, where she was named Partner in 2019. Pravdic’s global experience includes working in Europe and advising a variety of financial institutions across multiple sectors, such as banking, wealth management, and payments.

Citizens Financial Group, with $217.5 billion in assets as of December 31, 2024, stands as one of the nation’s oldest and largest financial entities. The bank offers a comprehensive range of services to individual, small business, and corporate clients. Its Consumer Banking division provides an integrated experience with digital banking capabilities, while its Commercial Banking sector offers extensive financial products and solutions. The company has maintained dividend payments for 12 consecutive years, currently offering a 4.82% yield. InvestingPro analysis reveals 8+ additional key insights about Citizens’ financial health and market position.

This strategic appointment is part of Citizens Financial Group’s ongoing efforts to enhance its leadership team and drive key strategic initiatives forward. The company’s stock currently trades at a P/E ratio of 11.75, with analysts setting price targets between $43 and $58. For comprehensive analysis and detailed insights, investors can access the full Citizens Financial Group research report on InvestingPro, which includes expert analysis and key performance metrics. The information regarding Pravdic’s appointment is based on a press release statement from Citizens Financial Group, Inc.

In other recent news, Citizens Financial Group reported its fourth-quarter 2024 earnings, exceeding analysts’ expectations with an earnings per share (EPS) of $0.85, compared to the forecast of $0.82. The company also surpassed revenue projections, achieving $1.98 billion against the expected $1.96 billion. In addition to strong earnings, Citizens Financial Group successfully completed the sale of $750 million in senior notes, which will accrue interest at a fixed rate until 2030 before switching to a floating rate. These funds are intended for general corporate purposes, though specific allocations have not been detailed.

In a notable executive change, Vice Chair and Chief Experience Officer Beth Johnson announced her retirement, effective March 3, after an 11-year tenure with the company. Analysts have been adjusting their outlooks on Citizens Financial Group, with Truist Securities raising its price target from $49.00 to $54.00 and maintaining a Hold rating, while Keefe, Bruyette & Woods increased their target from $53.00 to $56.00, keeping a Market Perform rating. Both firms noted mixed results from the recent quarter but acknowledged the bank’s strong performance in deposits and net interest income.

The bank’s management has indicated expectations for net interest margin improvements by the fourth quarter of 2025. These developments reflect Citizens Financial Group’s ongoing efforts to strengthen its financial standing and strategic initiatives.

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