Issue 1 2020

24 CEO MONTHLY / ISSUE 1 2020 , Clarfeld | Citizens PrivateWealth, a subsidiary of Citizens Bank, has named Rick Suarez to succeed firm founder Rob Clarfeld as Chief Executive Officer. Clarfeld | Citizens Private Wealth Names Rick Suarez CEO The new appointment comes one year after the successful acquisition by Citizens Bank of this premier wealth management firm serving high-net-worth families and institutions. To ensure continuity of culture and direction, Rob Clarfeld will remain with the firm he founded as Executive Chairman. In that role he will be focusing on strategic initiatives, brand stewardship and client service. “Rick and I have worked together since 1996 when he first joined us as a financial planner,” said Rob Clarfeld. “We are fully aligned in terms of our client- centric service philosophy and shared vision to create the industry’s premier private bank. Rick is widely respected for his leadership and execution skills and I have complete confidence in his ability to steward the firm in the coming years.” A longtime member of both Clarfeld’s Executive Committee and Investment Policy Committee, as co-COO Suarez is responsible for building and managing all aspects of the firm’s investment advisory service for both U.S. and offshore clients. “I’m truly humbled that Rob and the management team at Citizens Bank have entrusted me with this important position,” said Suarez. “Rob has been a terrific mentor to me throughout my career and, along with my partners, I look forward to advancing the high-touch service model he has created.” Under Suarez’s leadership Clarfeld Citizens Private Wealth will continue to provide excellence in client service for which it is already well known, while expanding and deepening the number of clients who benefit from its financial, tax and estate planning, family office, banking, and trust services. “We have completed the integration of Clarfeld and Citizens Wealth Management, and are now serving clients as a combined team delivering the range of solutions that we outlined early in 2019,” said John Bahnken, CEO and president of Citizens Bank Wealth Management. “Additionally, we are delighted that Rob will continue on with our business as Executive Chairman, and Rick is completing the transition to president and CEO.” Suarez, 49, holds an MBA in Finance from Pace University’s Lubin School of Business, and is a Certified Financial Planner. He serves as a director for The Boys & Girls Club of Northern Westchester. He resides in Westchester with his wife Donna and their three children. Concurrent with these changes Robert A. Varriano, a 29-year veteran with the firm, assumes the role of sole Chief Operating Officer. Robert holds both the CPA and CFP designations.