8-KLeadership ChangesExhibits & Filings

CITIZENS FINANCIAL GROUP INC/RI 8-K Report, Executive Changes (Oct 7, 2025)

Filed October 7, 2025For Securities:CFGCFG-PHCFG-PECFG-PI

Summary

Citizens Financial Group, Inc. (CFG) announced a significant leadership transition within its Commercial Banking division, effective October 7, 2025. Ted Swimmer, previously head of capital markets and advisory, has been appointed as the new Head of Commercial Banking. This move promotes a seasoned executive with deep experience within the company and the broader banking industry. Mr. Swimmer, a 30-year veteran who joined CFG in 2010, brings extensive knowledge from his previous roles, including his position on the Executive Committee since 2018. This appointment is part of a planned succession strategy, as the outgoing Head of Commercial Banking, Don McCree, will transition to the role of Chair of Commercial Banking until his retirement at the end of March 2026. This ensures a smooth handover of responsibilities and leverages Mr. McCree's continued experience during the transition period. Investors should view this as a positive step, indicating a focus on internal talent development and continuity in a key business segment.

Key Highlights

  • 1Ted Swimmer appointed as the new Head of Commercial Banking, effective immediately.
  • 2Ted Swimmer has over 30 years of experience in the banking industry.
  • 3Mr. Swimmer joined Citizens Financial Group in 2010 and has been a member of the Executive Committee since 2018.
  • 4Don McCree, the outgoing Head of Commercial Banking, will transition to Chair of Commercial Banking.
  • 5Mr. McCree is slated to retire at the end of March 2026.
  • 6The press release announcing these changes is filed as Exhibit 99.1.

Frequently Asked Questions

Ted Swimmer has been appointed as the new Head of Commercial Banking, effective October 7, 2025.

Ted Swimmer is a 30-year banking industry veteran who joined Citizens Financial Group in 2010. He previously served as the head of capital markets and advisory for Citizens Commercial Banking and has been a member of the Company's Executive Committee since 2018.

Don McCree will remain with the Company as Chair of Commercial Banking until his retirement at the end of March 2026, ensuring a smooth transition.

This leadership transition signifies internal talent development and a planned succession within a key business segment. The continuity provided by Don McCree's transition role and Ted Swimmer's extensive experience within the company suggests a stable approach to Commercial Banking operations.