Citizens Financial Group appoints Aunoy Banerjee as new CFO

PROVIDENCE - Citizens Financial Group, Inc. (NYSE:CFG), a financial institution currently valued at $20.24 billion and trading at a P/E ratio of 14.21, has appointed Aunoy Banerjee as Executive Vice President and Chief Financial Officer, the company announced Tuesday in a press release. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value estimates.

Banerjee, who currently serves as CFO of Barclays Bank PLC, will join Citizens on October 24. He will serve on the company’s Executive Committee and report to Chairman and CEO Bruce Van Saun.

The appointment comes as current CFO John Woods is set to depart on August 15. Chris Emerson, EVP and Head of Corporate Planning & Enterprise Finance, will serve as interim CFO until Banerjee assumes the role.

In his new position, Banerjee will oversee Financial Planning and Analysis, Business Line Finance Groups, Controller, Investor Relations, Treasury, Tax, and Capital Management functions, as well as Property & Procurement.

"Aunoy is a seasoned leader with a broad background and strong record of accomplishment over his career," said Van Saun in the statement.

Banerjee brings 25 years of financial services experience to Citizens. At Barclays, he led a global team supporting multiple business lines and oversaw a £1.1 trillion balance sheet. Prior to Barclays, he held various finance and transformation roles at State Street over eight years, including Chief Transformation Officer. His career also includes 11 years at Citi and early experience at General Electric.

Citizens Financial Group operates approximately 1,000 branches across 14 states and the District of Columbia, with $218.3 billion in assets as of June 30, 2025.

In other recent news, Citizens Financial Group reported impressive second-quarter earnings for 2025, exceeding Wall Street expectations. The company achieved an earnings per share (EPS) of $0.92, surpassing the forecast of $0.88, while revenue reached $2.04 billion, outperforming the anticipated $2.01 billion. Following these results, several financial firms adjusted their outlooks on Citizens Financial Group. Truist Securities raised its price target to $52, citing the earnings beat and positive third-quarter guidance as key factors. Citi increased its target to $60, maintaining a Buy rating, while DA Davidson adjusted its target to $55, also maintaining a Buy rating. Evercore ISI upgraded the stock from In Line to Outperform, raising its price target to $55, based on expectations of strengthening balance sheet trends and improved earnings trajectory. These developments highlight a series of positive updates for Citizens Financial Group.

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