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Fin Stocks to watch for= Citizens Financial Group Inc (CFG), Bank of New York Mellon Corp (BK)

Shares of Citizens Financial Group Inc (NYSE:CFG) ended Wednesday session in green amid volatile trading. The shares closed up +0.57 points or 2.28% at $25.57 with 5.30 million shares getting traded. Post opening the session at $25.15, the shares hit an intraday low of $25.05 and an intraday high of $25.68 and the price vacillated in this range throughout the day. The company has a market cap of $13.49 billion and the numbers of outstanding shares have been calculated to be 564.44 million shares.

Citizens Financial Group Inc (CFG) announced that Chief Financial Officer Eric Aboaf is departing to become CFO of State Street Corporation. Aboaf has been CFO since April 2015, and will work through his notice period until Dec. 16, 2016. Former Citizens Financial Group CFO John Fawcett, who retired in April 2015 after the Citizens initial public offering, will come out of retirement and serve as interim CFO, subject to regulatory approval, post Aboaf’s departure until a successor has been found.

Chairman and CEO Bruce Van Saun commented, “I’d like to thank Eric for his contributions while at Citizens. He has developed into a very good CFO and has made important contributions in managing our balance sheet, driving efficiency initiatives and working with our businesses on their strategy. He has an opportunity at State Street to substantially increase his compensation and gain new experiences at a large, global custody bank and we wish him well.”

Van Saun continued, “I am deeply grateful that John Fawcett has agreed to come out of retirement and become CFO on an interim basis. This will ensure that we maintain the strong momentum we have towards our goal of becoming a top-performing regional bank. We will conduct a thorough external search for the permanent CFO, and I am confident in our ability to attract top quality.”

Shares of Bank of New York Mellon Corp (NYSE:BK) ended Wednesday session in green amid volatile trading. The shares closed up +0.63 points or 1.57% at $40.83 with 5.72 million shares getting traded. Post opening the session at $40.50, the shares hit an intraday low of $40.38 and an intraday high of $40.90 and the price vacillated in this range throughout the day. The company has a market cap of $44.15 billion and the numbers of outstanding shares have been calculated to be 1.07 billion shares.

Bank of New York Mellon Corp (BK) announced that its Board of Directors has elected Elizabeth Robinson, the former Global Treasurer of The Goldman Sachs Group, Inc., as an independent director, effective immediately. With the addition of Robinson, BNY Mellon’s Board will have 12 directors, 11 of whom are independent.  Robinson will also be included in BNY Mellon’s slate of nominees for election to the Board at the 2017 Annual Meeting of Shareholders.

“We are delighted to welcome Liz to our Board,” said BNY Mellon Chairman and Chief Executive Officer Gerald L. Hassell. “Liz will be a great asset to BNY Mellon as we continue to execute on our strategic and regulatory initiatives.”

 

 

 

About Mary Jones

Mary Jones has been a columnist on financial. Because of having financial background, Mary Jones has been well known in his community regarding writing blogs on financial for many financial news sites and now it is our honor that Mary Jones started writing financial news for us recently.

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