Mergers & Acquisitions Hub
Last updated 4/7/2022
Mergers and acquisitions are part of our strategy. Citizens is ready to earn its place as a valued part of our new communities. We are here to listen and help our customers, colleagues and communities at all stages of their journeys.
Below are questions you may have as a job seeker, candidate or current colleague of a company we recently acquired.
General M&A FAQs
Did Citizens complete acquisitions recently?
Citizens has purchased or entered into an agreement to purchase several organizations to better support our customers with capabilities and solutions. Since our IPO in 2014 that list includes:
- 2017 – Western Reserve Partners
- 2018 – Franklin American Mortgage Company
- 2019 – Bowstring Advisors, and Clarfeld
- 2020 – Trinity Capital Investment Banking
- 2021 – HSBC, Investors Bancorp, Willamette Management Associates, JMP Group, and DH Capital
You can learn more about our history and acquisitions on our Investor Relations page.
Why did Citizens acquire these companies?
Mergers and acquisitions are part of Citizens’ strategy. They enable us to broaden our footprint and expand our capabilities so we can help more customers.
What are Citizens' plans for integration?
We aim to integrate with our newly acquired organizations as smoothly and transparently as possible for colleagues, customers, and partners.
Can employees of acquired companies apply for a job at Citizens?
Anyone is welcome to visit jobs.citizensbank.com to apply for our open roles.
Where can employees of acquired companies learn about Citizens’ benefits?
We offer programs and benefits to support our colleagues — personally and professionally — to help them thrive across all aspects of their life. Visit our Benefits page to learn more.
What additional information is available about the acquisitions?
Our press releases have all the details. You can find them on our Latest News page.
Did Citizens purchase HSBC?
We closed on the previously announced acquisition of 80 East Coast branches and the national online deposit business from HSBC Bank on February 18, 2022. The 80-branch acquisition includes 66 locations in the New York City Metro area, 9 locations in the Mid-Atlantic/Washington D.C. area, and 5 locations in Southeast Florida. The acquired branches have been re-branded as “Citizens” and offer open roles in various locations.
Why did Citizens decide to acquire HSBC?
The acquisition extends Citizens’ physical presence to several attractive markets and adds more than 800,000 new customer accounts, accelerating the bank’s national expansion strategy.
Investors Bancorp FAQs
Did Citizens purchase Investors Bancorp?
Yes. The transaction closed in the second quarter of 2022.
Where do Investors employees fit within Citizens’ organization?
Investors employees have joined multiple teams across Citizens. Because we’re being thoughtful about bringing our companies together, candidates may see references to Investors and Citizens brands during the recruiting and hiring process through the first quarter of 2023. You can find more information about our businesses and functions on the career site. Open roles are available in multiple locations.
Did Citizens purchase Willamette Management Associates?
Yes. The transaction closed in the third quarter of 2021.
Where do Willamette employees fit within Citizens’ organization?
Willamette Management Associate employees became part of the Commercial Banking team. You can find more information about that business on our Commercial careers page.
JMP Group FAQs
Did Citizens purchase JMP Group?
Yes. The transaction closed in the fourth quarter of 2021.
Where do JMP Group employees fit within Citizens’ organization?
JMP employees became part of the Commercial Banking team. You can find more information about that business on our Commercial careers page.
DH Capital FAQs
Did Citizens purchase DH Capital?
Citizens has entered into an agreement to purchase DH Capital. The transaction is targeted to close in the first quarter of 2022.
Why did Citizens decide to acquire DH Capital?
The addition of DH Capital complements the recent JMP acquisition and rounds out our technology advisory capabilities. Through the recent acquisitions of JMP, Willamette and DH Capital, we’ve continued to build out solutions and capital markets expertise to help clients throughout their lifecycle.
Where do DH Capital employees fit within Citizens’ organization?
DH Capital is expected to join the Commercial Banking team. You can find more information about that business on our Commercial careers page.