| November 3, 2009 Citizens Financial Group CEO says it won't be sold
|
PROVIDENCE, R.I. (AP) - The head of Citizens Financial Group
says it won't be sold by its parent company, the Royal Bank of
Scotland, as a condition of the British government pouring billions
of dollars into the firm.
Chief Executive Officer Ellen Alemany says RBS's announcement
Tuesday that Citizens is not among the assets it will sell affirms
that the Providence-based banking firm is "a valued part of the
RBS Group."
Citizens Financial operates nearly 1,500 branches, as Citizens
Bank in nine northeastern states and as Charter One in three
midwestern states. It has about 23,000 employees.
RBS says it's selling other assets, including branch networks in
England, Wales and Scotland as part of a deal announced Tuesday in
which the British government gives it 25.5 billion pounds, about
$41.8 billion, on top of an earlier bailout.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
