Citizens Names Commercial-Banking Head as McCree Retires

Introduction
Citizens Financial Group has announced the retirement of veteran executive Don McCree after a decade of leadership and appointed Ted Swimmer, previously head of Capital Markets and Advisory, as the new head of commercial banking. The transition marks a significant leadership shift for Citizens as it continues to strengthen its position in the U.S. financial landscape, particularly in lending, credit services, and middle-market banking.

A Leadership Transition at a Pivotal Moment

After 10 years at Citizens and more than three decades at JPMorgan Chase, Don McCree is stepping down, leaving behind a legacy of growth and innovation. McCree played a central role in developing Citizens’ commercial banking division into one of the most competitive in the market—balancing personalized customer service with the scale and sophistication of larger institutions.

CEO Bruce Van Saun credited McCree for transforming Citizens into “one of the best-positioned commercial banks” capable of serving businesses at every stage of growth. McCree’s focus on strengthening Citizens’ lending portfolio, enhancing deposit growth, and improving digital banking tools helped the bank navigate interest rate volatility and evolving client expectations.

Ted Swimmer Steps Into a Key Role

Ted Swimmer’s appointment signals continuity and strategic evolution. Having worked closely with McCree, Swimmer built a strong capital markets and advisory business focused on providing tailored credit solutions, loan structuring, and risk management strategies for clients.

As commercial-banking head, Swimmer will oversee corporate lending, treasury management, and advisory services—critical areas that drive loan and deposit growth. Citizens aims to further expand its reach among middle-market companies while integrating advanced digital tools that simplify business checking accounts, credit management, and lending processes.

Van Saun praised Swimmer as “a highly capable leader who has attracted great talent,” highlighting his ability to guide Citizens through a competitive banking environment shaped by rising interest rates and shifting credit demand.

Middle-Market Strength and Strategic Growth

Under McCree’s tenure, Citizens developed one of the largest middle-market M&A pipelines in its history, focusing on transactions that offer stable returns despite market fluctuations. McCree noted earlier this year that smaller, mid-market deals tend to carry less uncertainty than large-scale mergers—a strategy that has helped shield Citizens from broader economic challenges.

By emphasizing advisory and lending services for middle-market clients, Citizens has positioned itself to capture business opportunities from companies seeking flexible loans, stable credit access, and expert financial guidance amid ongoing market shifts.

Looking Ahead: Continuity and Innovation

The leadership handoff from McCree to Swimmer reflects Citizens’ broader strategy—combining institutional strength with a client-centric approach. As digital banking and automation reshape corporate finance, Swimmer’s experience in advisory and capital markets may help Citizens further modernize its commercial offerings, enhance operational efficiency, and deliver competitive deposit and loan products.

Closing Insights:
Citizens’ leadership transition underscores the importance of adaptability in modern banking. As interest rates remain uncertain and competition for business deposits intensifies, success will depend on blending digital innovation with human expertise. Banks that focus on trust, technology, and tailored credit solutions—like Citizens—are best positioned to thrive in a rapidly evolving financial landscape.

Previous Post Why Banks Struggle to Turn AI Efficiency into Real Growth

Next Post New Board Role for Inventx Co-Founder Gregor Stücheli