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Article: Wealth Manager Goes to 'Committed' Smaller Bank.(Wealth Management)(Citizens Financial Group Inc.)(Royal Bank of Scotland PLC)(Washington Trust Bancorp Inc. appoints Kent W. Gladding )
- Article from:
- American Banker
- Article date:
- April 3, 2009
- Author:
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Byline: Matt Ackermann
Uncertainty in Citizens Financial Group's wealth management arm since the British government's takeover of its parent, Royal Bank of Scotland Group PLC, was among the reasons a Rhode Island executive says he decided to leave the company to run a smaller book of business at a smaller New England rival.
"Citizens claims that wealth management is important, but if you look at the size of the wealth management business as compared to the scale of their enterprise, it is really tiny and insignificant," Kent W. Gladding said in an interview Tuesday. "It is not a secret that Royal Bank of Scotland is struggling with its balance sheet, ...