Citizens Bank-Owned RIA Clarfeld Names Rick Suarez New CEOCitizens Bank-Owned RIA Clarfeld Names Rick Suarez New CEO
Rick Suarez will serve as CEO of Clarfeld, a $3.9 billion RIA acquired by Citizens Bank last year.
Tarrytown, N.Y.-based Clarfeld | Citizens Private Wealth, a registered investment advisory that was acquired by Citizens Bank at the beginning of 2019, has named Rick Suarez as CEO. He succeeds Founder Rob Clarfeld, who will stay on as executive chairman. The RIA currently has about $3.9 billion in client assets.
Most recently, Suarez was serving as co-chief operating officer, with responsibility for building and managing the firm’s investment advisory service for U.S. and offshore clients. His co-COO, Robert Varriano, will take over his COO duties.
Clarfeld has now been fully integrated into Citizens Bank’s operations. Citizens Financial Group reached an agreement to purchase the RIA in November 2018, to help scale its wealth management business and elevate its services offered to the wealthiest clients.
