Paul Casey will join Citizens Financial as head of wealth management, effective July 9. In this role, Casey will focus on accelerating Citizens’ wealth business, an increasingly critical component of the bank’s strategy following the launch of Citizens Private Bank in the fall of 2023.

Casey will lead the bank’s Citizens Wealth Management and Citizens Private Wealth Management organizations, serving the needs of mass affluent, affluent, high-net-worth and ultra-high-net-worth clients. Based in New York City, Casey will report to Brendan Coughlin, vice chair and head of consumer banking at Citizens.

“Paul is an experienced and well-rounded wealth management executive with a proven track record of success and has a long runway here at Citizens,” Coughlin said. “His experience in building a world-class private wealth business at one of the top firms in the U.S. will be invaluable as we aspire to build a preeminent private wealth offering.”

Casey has more than two decades of experience from Morgan Stanley, where he held increasingly responsible leadership positions. Most recently, he served as managing director for the firm’s flagship New York City private wealth management office, overseeing more than $90 billion in client assets.

“We’ve been on a journey to build a world-class wealth management business for several years and have generated solid momentum,” Coughlin said. “The launch of our new private bank supercharged Citizens’ ability to scale our wealth business, elevating our brand image and attracting some of the industry’s top talent to our platform. I am confident Paul will help us realize the full potential we have in front of us.”

Citizens has made investments to accelerate its wealth business, including the launch of Citizens Private Bank with the hiring of about 200 bankers in 2023. In addition, the company has bolstered its wealth leadership team with the recent additions of Michael Cherny as head of Citizens Wealth Management Advisors and Tom Metzger as head of Citizens Private Wealth Managers, as well as the addition of more than a dozen new financial advisors since last fall.