[8-K] Citizens Financial Group, Inc. Reports Material Event
Citizens Financial Group announced that Aunoy Banerjee will join as Executive Vice President and Chief Financial Officer, replacing the current CFO who will depart in mid-August. Mr. Banerjee, a 25-year financial services veteran most recently serving as CFO of Barclays Bank PLC, will assume responsibility for Financial Planning and Analysis, Business Line Finance, Controller, Investor Relations, Treasury, Tax, Capital Management, and Property & Procurement.
He will start on October 24, 2025 and his employment agreement (entered August 6, 2025) provides a $700,000 base salary, $3,700,000 guaranteed 2025 incentive (reduced by any role-based allowance from his prior employer), and a buy-out award valued at approximately $5,000,000 paid in cash and restricted stock units vesting over four years. The company named an interim CFO to cover the period between departures, and Mr. Banerjee鈥檚 contract includes standard severance, change-of-control protections and restrictive covenants.
Citizens Financial Group ha annunciato che Aunoy Banerjee entrer脿 in azienda come Executive Vice President e Chief Financial Officer, sostituendo l'attuale CFO che lascer脿 a met脿 agosto. Il signor Banerjee, veterano con 25 anni di esperienza nei servizi finanziari e pi霉 recentemente CFO di Barclays Bank PLC, assumer脿 la responsabilit脿 della Pianificazione e Analisi Finanziaria, delle Finanze delle Linee di Business, del Controllo, delle Relazioni con gli Investitori, della Tesoreria, della Fiscalit脿, della Gestione del Capitale e della Propriet脿 & Approvvigionamenti.
Inizier脿 il 24 ottobre 2025 e il suo contratto di lavoro (sottoscritto il 6 agosto 2025) prevede una retribuzione base di $700.000, un incentivo garantito per il 2025 di $3.700.000 (ridotto di eventuali indennit脿 legate al ruolo fornite dal suo precedente datore) e un premio di buy-out del valore di circa $5.000.000 corrisposto in contanti e in unit脿 azionarie vincolate che maturano in quattro anni. La societ脿 ha nominato un CFO ad interim per coprire il periodo tra le uscite e il contratto del signor Banerjee include indennit脿 di fine rapporto standard, protezioni in caso di cambio di controllo e clausole restrittive.
Citizens Financial Group anunci贸 que Aunoy Banerjee se incorporar谩 como Vicepresidente Ejecutivo y Director Financiero, reemplazando al actual CFO que se retirar谩 a mediados de agosto. El Sr. Banerjee, con 25 a帽os de experiencia en servicios financieros y recientemente CFO de Barclays Bank PLC, asumir谩 la responsabilidad de Planificaci贸n y An谩lisis Financiero, Finanzas de las L铆neas de Negocio, Control, Relaciones con Inversionistas, Tesorer铆a, Fiscalidad, Gesti贸n de Capital y Propiedades & Compras.
Comenzar谩 el 24 de octubre de 2025 y su contrato laboral (firmado el 6 de agosto de 2025) contempla un salario base de $700.000, un incentivo garantizado para 2025 de $3.700.000 (reducido por cualquier compensaci贸n por funci贸n procedente de su anterior empleador) y un pago por buy-out valorado en aproximadamente $5.000.000 pagado en efectivo y en unidades restringidas de acciones que se consolidan a lo largo de cuatro a帽os. La compa帽铆a nombr贸 un CFO interino para cubrir el periodo entre salidas, y el contrato del Sr. Banerjee incluye indemnizaci贸n est谩ndar por despido, protecciones en caso de cambio de control y cl谩usulas restrictivas.
Citizens Financial Group電� Aunoy Banerjee臧� 鞝勲 瓴� 斓滉碃鞛毂呾瀯鞛�(CFO)搿� 頃╇頃滊嫟瓿� 氚滍憸頄堨姷雼堧嫟. 攴鸽姅 8鞗� 欷戩垳鞐� 韲挫瀯頃橂姅 順� CFO鞚� 霋るゼ 鞛囲姷雼堧嫟. 氚旊劋毳挫 鞌姅 旮堨湹鞐呹硠鞐愳劀 25雲� 瓴诫牓鞚� 鞂撿潃 氩犿厡霝戩溂搿� 斓滉芳 Barclays Bank PLC鞚� CFO毳� 鞐瀯頄堨溂氅�, 鞛 旮绊殟 氚� 攵勳劃, 靷梾攵� 鞛, 旎姼搿る煬(須岅硠 韱奠牅), 韴瀽鞛� 甏�瓿�, 鞛(韸鸽爤鞝�毽�), 靹鸽, 鞛愲掣 甏�毽� 氚� 鞛愳偘&臁半嫭鞚� 齑濌磩頃橁矊 霅╇媹雼�.
攴茧 鞁滌瀾鞚检潃 2025雲� 10鞗� 24鞚�鞚措┌, 2025雲� 8鞗� 6鞚� 觳搓舶霅� 瓿犾毄 瓿勳暯鞐愲姅 旮半掣 鞐半磯 $700,000, 2025雲� 氤挫灔 鞚胳劶韹半笇 $3,700,000(鞚挫爠 瓿犾毄欤茧攵�韯� 氚涭潃 歆侂 甏�霠� 靾橂嫻鞚� 鞛堧姅 瓴届毎 頃措嫻 旮堨暋毵岉伡 彀皭), 攴鸽Μ瓿� 順勱笀瓿� 4雲勳棎 瓯胳硱 氩犾姢韺呺悩電� 鞝滍暅攵� 欤检嫕(RSU)鞙茧 歆�旮夒悩電� 鞎� $5,000,000 靸侂嫻鞚� 氚旍澊鞎勳泝 氤挫儊鞚� 韽暔霅橃柎 鞛堨姷雼堧嫟. 須岇偓電� 韲挫瀯 臧� 瓿惦氨鞚� 氅旍毎旮� 鞙勴暣 鞛勳嫓 CFO毳� 歆�氇呿枅鞙茧┌, 氚旊劋毳挫 鞌潣 瓿勳暯鞐愲姅 響滌 頃搓碃 靾橂嫻, 瓴届榿甓� 氤�瓴� 鞁� 氤错樃 臁绊暛 氚� 瓴届梾旮堨 霌� 鞝滍暅鞝� 瓿勳暯 臁绊暛鞚� 韽暔霅橃柎 鞛堨姷雼堧嫟.
Citizens Financial Group a annonc茅 qu'Aunoy Banerjee rejoindra la soci茅t茅 en tant que Executive Vice President et Chief Financial Officer, rempla莽ant le CFO actuel qui partira 脿 la mi-ao没t. M. Banerjee, v茅t茅ran des services financiers avec 25 ans d'exp茅rience et derni猫rement CFO de Barclays Bank PLC, prendra en charge la planification et l'analyse financi猫res, les finances des lignes m茅tier, le contr么le, les relations investisseurs, la tr茅sorerie, la fiscalit茅, la gestion du capital et l'immobilier & achats.
Il d茅butera le 24 octobre 2025 et son contrat de travail (dat茅 du 6 ao没t 2025) pr茅voit un salaire de base de 700 000 $, une prime garantie pour 2025 de 3 700 000 $ (r茅duite de toute indemnit茅 li茅e au poste vers茅e par son employeur pr茅c茅dent), ainsi qu'une indemnit茅 de rachat d'environ 5 000 000 $ vers茅e en esp猫ces et en unit茅s d'actions restreintes vestant sur quatre ans. La soci茅t茅 a nomm茅 un CFO int茅rimaire pour couvrir la p茅riode de transition ; le contrat de M. Banerjee comprend des indemnit茅s de rupture standard, des protections en cas de changement de contr么le et des clauses restrictives.
Citizens Financial Group gab bekannt, dass Aunoy Banerjee als Executive Vice President und Chief Financial Officer eintreten wird und den derzeitigen CFO ersetzen soll, der Mitte August ausscheidet. Herr Banerjee, ein 25-j盲hriger Branchenveteran, der zuletzt als CFO der Barclays Bank PLC t盲tig war, 眉bernimmt die Verantwortung f眉r Finanzplanung und -analyse, Business-Line-Finance, Controller/Rechnungswesen, Investor Relations, Treasury, Steuern, Kapitalmanagement sowie Immobilien & Beschaffung.
Er beginnt am 24. Oktober 2025. Sein am 6. August 2025 abgeschlossener Arbeitsvertrag sieht ein Grundgehalt von $700.000, eine garantierte 2025er-Pr盲mie von $3.700.000 (verringert um etwaige rollenbedingte Zulagen des vorherigen Arbeitgebers) sowie eine Buy-out-Verg眉tung im Wert von rund $5.000.000 vor, die in bar und in Restricted Stock Units ausgezahlt wird, die 眉ber vier Jahre vesten. Das Unternehmen hat einen Interim-CFO f眉r die 脺bergangszeit benannt; der Vertrag von Herrn Banerjee enth盲lt branchen眉bliche Abfindungsregelungen, Change-of-Control-Schutz und restriktive Vereinbarungen.
- Experienced hire with 25 years in financial services and recent role as CFO of Barclays Bank PLC, providing strong finance leadership.
- Comprehensive responsibilities assigned, covering FP&A, Treasury, Capital Management, Investor Relations and other key finance functions, supporting continuity.
- Orderly transition with an interim CFO named to cover the gap between departures, reducing operational risk.
- Significant compensation expense: guaranteed $3.7M incentive for 2025 and an approximately $5.0M buy-out award create near-term cash and expense implications.
- Change-of-control protections include double-trigger severance based on salary and average bonus, which could be costly if triggered.
Insights
TL;DR: Experienced global finance executive joins as CFO; compensation and buy-out are sizable, creating short-term cash and expense considerations but a neutral operational signal.
Mr. Banerjee鈥檚 background as CFO of Barclays Bank PLC and senior roles at State Street signals deep experience across consumer, corporate and investment banking finance functions, which supports continuity for Citizens鈥� finance organization. The guaranteed $3.7M incentive for 2025 and the approximately $5.0M buy-out create immediate incremental compensation expense and potential near-term cash outflow, but these are structured with multi-year vesting and standard severance triggers. The appointment is material from a leadership perspective but does not by itself indicate a change in operating strategy or near-term financial performance.
TL;DR: The succession appears orderly with interim coverage; the employment agreement contains common restrictive covenants and customary change-of-control protections.
The contract鈥檚 provisions鈥攁t-will employment with a 120-day resignation notice, non-solicitation and confidentiality obligations, minimum severance of 26 weeks, and double-trigger change-of-control payments based on base salary plus average cash bonus鈥攁re standard for senior hires at this level. The buy-out mix of cash and restricted stock units vesting over four years aligns executive incentives with shareholder interests while compensating for forfeited awards from his prior employer. From a governance standpoint, disclosures are clear and comprehensive about material economic terms.
Citizens Financial Group ha annunciato che Aunoy Banerjee entrer脿 in azienda come Executive Vice President e Chief Financial Officer, sostituendo l'attuale CFO che lascer脿 a met脿 agosto. Il signor Banerjee, veterano con 25 anni di esperienza nei servizi finanziari e pi霉 recentemente CFO di Barclays Bank PLC, assumer脿 la responsabilit脿 della Pianificazione e Analisi Finanziaria, delle Finanze delle Linee di Business, del Controllo, delle Relazioni con gli Investitori, della Tesoreria, della Fiscalit脿, della Gestione del Capitale e della Propriet脿 & Approvvigionamenti.
Inizier脿 il 24 ottobre 2025 e il suo contratto di lavoro (sottoscritto il 6 agosto 2025) prevede una retribuzione base di $700.000, un incentivo garantito per il 2025 di $3.700.000 (ridotto di eventuali indennit脿 legate al ruolo fornite dal suo precedente datore) e un premio di buy-out del valore di circa $5.000.000 corrisposto in contanti e in unit脿 azionarie vincolate che maturano in quattro anni. La societ脿 ha nominato un CFO ad interim per coprire il periodo tra le uscite e il contratto del signor Banerjee include indennit脿 di fine rapporto standard, protezioni in caso di cambio di controllo e clausole restrittive.
Citizens Financial Group anunci贸 que Aunoy Banerjee se incorporar谩 como Vicepresidente Ejecutivo y Director Financiero, reemplazando al actual CFO que se retirar谩 a mediados de agosto. El Sr. Banerjee, con 25 a帽os de experiencia en servicios financieros y recientemente CFO de Barclays Bank PLC, asumir谩 la responsabilidad de Planificaci贸n y An谩lisis Financiero, Finanzas de las L铆neas de Negocio, Control, Relaciones con Inversionistas, Tesorer铆a, Fiscalidad, Gesti贸n de Capital y Propiedades & Compras.
Comenzar谩 el 24 de octubre de 2025 y su contrato laboral (firmado el 6 de agosto de 2025) contempla un salario base de $700.000, un incentivo garantizado para 2025 de $3.700.000 (reducido por cualquier compensaci贸n por funci贸n procedente de su anterior empleador) y un pago por buy-out valorado en aproximadamente $5.000.000 pagado en efectivo y en unidades restringidas de acciones que se consolidan a lo largo de cuatro a帽os. La compa帽铆a nombr贸 un CFO interino para cubrir el periodo entre salidas, y el contrato del Sr. Banerjee incluye indemnizaci贸n est谩ndar por despido, protecciones en caso de cambio de control y cl谩usulas restrictivas.
Citizens Financial Group電� Aunoy Banerjee臧� 鞝勲 瓴� 斓滉碃鞛毂呾瀯鞛�(CFO)搿� 頃╇頃滊嫟瓿� 氚滍憸頄堨姷雼堧嫟. 攴鸽姅 8鞗� 欷戩垳鞐� 韲挫瀯頃橂姅 順� CFO鞚� 霋るゼ 鞛囲姷雼堧嫟. 氚旊劋毳挫 鞌姅 旮堨湹鞐呹硠鞐愳劀 25雲� 瓴诫牓鞚� 鞂撿潃 氩犿厡霝戩溂搿� 斓滉芳 Barclays Bank PLC鞚� CFO毳� 鞐瀯頄堨溂氅�, 鞛 旮绊殟 氚� 攵勳劃, 靷梾攵� 鞛, 旎姼搿る煬(須岅硠 韱奠牅), 韴瀽鞛� 甏�瓿�, 鞛(韸鸽爤鞝�毽�), 靹鸽, 鞛愲掣 甏�毽� 氚� 鞛愳偘&臁半嫭鞚� 齑濌磩頃橁矊 霅╇媹雼�.
攴茧 鞁滌瀾鞚检潃 2025雲� 10鞗� 24鞚�鞚措┌, 2025雲� 8鞗� 6鞚� 觳搓舶霅� 瓿犾毄 瓿勳暯鞐愲姅 旮半掣 鞐半磯 $700,000, 2025雲� 氤挫灔 鞚胳劶韹半笇 $3,700,000(鞚挫爠 瓿犾毄欤茧攵�韯� 氚涭潃 歆侂 甏�霠� 靾橂嫻鞚� 鞛堧姅 瓴届毎 頃措嫻 旮堨暋毵岉伡 彀皭), 攴鸽Μ瓿� 順勱笀瓿� 4雲勳棎 瓯胳硱 氩犾姢韺呺悩電� 鞝滍暅攵� 欤检嫕(RSU)鞙茧 歆�旮夒悩電� 鞎� $5,000,000 靸侂嫻鞚� 氚旍澊鞎勳泝 氤挫儊鞚� 韽暔霅橃柎 鞛堨姷雼堧嫟. 須岇偓電� 韲挫瀯 臧� 瓿惦氨鞚� 氅旍毎旮� 鞙勴暣 鞛勳嫓 CFO毳� 歆�氇呿枅鞙茧┌, 氚旊劋毳挫 鞌潣 瓿勳暯鞐愲姅 響滌 頃搓碃 靾橂嫻, 瓴届榿甓� 氤�瓴� 鞁� 氤错樃 臁绊暛 氚� 瓴届梾旮堨 霌� 鞝滍暅鞝� 瓿勳暯 臁绊暛鞚� 韽暔霅橃柎 鞛堨姷雼堧嫟.
Citizens Financial Group a annonc茅 qu'Aunoy Banerjee rejoindra la soci茅t茅 en tant que Executive Vice President et Chief Financial Officer, rempla莽ant le CFO actuel qui partira 脿 la mi-ao没t. M. Banerjee, v茅t茅ran des services financiers avec 25 ans d'exp茅rience et derni猫rement CFO de Barclays Bank PLC, prendra en charge la planification et l'analyse financi猫res, les finances des lignes m茅tier, le contr么le, les relations investisseurs, la tr茅sorerie, la fiscalit茅, la gestion du capital et l'immobilier & achats.
Il d茅butera le 24 octobre 2025 et son contrat de travail (dat茅 du 6 ao没t 2025) pr茅voit un salaire de base de 700 000 $, une prime garantie pour 2025 de 3 700 000 $ (r茅duite de toute indemnit茅 li茅e au poste vers茅e par son employeur pr茅c茅dent), ainsi qu'une indemnit茅 de rachat d'environ 5 000 000 $ vers茅e en esp猫ces et en unit茅s d'actions restreintes vestant sur quatre ans. La soci茅t茅 a nomm茅 un CFO int茅rimaire pour couvrir la p茅riode de transition ; le contrat de M. Banerjee comprend des indemnit茅s de rupture standard, des protections en cas de changement de contr么le et des clauses restrictives.
Citizens Financial Group gab bekannt, dass Aunoy Banerjee als Executive Vice President und Chief Financial Officer eintreten wird und den derzeitigen CFO ersetzen soll, der Mitte August ausscheidet. Herr Banerjee, ein 25-j盲hriger Branchenveteran, der zuletzt als CFO der Barclays Bank PLC t盲tig war, 眉bernimmt die Verantwortung f眉r Finanzplanung und -analyse, Business-Line-Finance, Controller/Rechnungswesen, Investor Relations, Treasury, Steuern, Kapitalmanagement sowie Immobilien & Beschaffung.
Er beginnt am 24. Oktober 2025. Sein am 6. August 2025 abgeschlossener Arbeitsvertrag sieht ein Grundgehalt von $700.000, eine garantierte 2025er-Pr盲mie von $3.700.000 (verringert um etwaige rollenbedingte Zulagen des vorherigen Arbeitgebers) sowie eine Buy-out-Verg眉tung im Wert von rund $5.000.000 vor, die in bar und in Restricted Stock Units ausgezahlt wird, die 眉ber vier Jahre vesten. Das Unternehmen hat einen Interim-CFO f眉r die 脺bergangszeit benannt; der Vertrag von Herrn Banerjee enth盲lt branchen眉bliche Abfindungsregelungen, Change-of-Control-Schutz und restriktive Vereinbarungen.
FAQ
Who is Citizens Financial Group's (CFG) new CFO?
When will CFG's new CFO start and when does the current CFO depart?
What are the key compensation terms for CFG's new CFO?
Who is covering CFO duties during the transition at CFG?
Does the new CFO鈥檚 agreement include severance or change-of-control protections?
