Charter One Bank names Scott Swanson as President of Charter One in Illinois
CHICAGO (January 16, 2007) - Charter One Bank today announced the appointment of Scott Swanson as President of Charter One Bank in Illinois. Charter One has 120 branches and more than 380 ATMs in the state. In 2006 it was named the No. 1 SBA lender in Illinois for the second year in a row. Swanson will join Charter One on January 29. He will be based in Chicago.
“Scott brings to Charter One two decades of financial service experience in Chicago and a deep understanding of its middle market and small business sectors,” said Stephen D. Steinour, President of Citizens Financial Group, Inc. “He has a track record of significant past successes and knows how to build businesses. His expertise in growing commercial banking will serve us well as we continue our growth in Chicago and throughout Illinois.”
“Scott also shares Charter One’s community values and will continue to be active in both the business sector and the Chicago community. We are pleased to have him with us,” said Steinour.
Swanson joins Charter One following 17 years at JPMorgan Chase and its predecessors, including American National Bank. Most recently, he was senior vice president and national executive of Chase’s Business Banking operation focusing primarily on companies with annual revenues between $3 million and $10 million. In this position, he managed approximately 1,000 employees in 125 cities across 17 states. Prior to Business Banking, Swanson was a senior vice president heading one of Chase’s Middle Market groups in Chicago. There he focused on clients in manufacturing, distribution, transportation, professional services, regional health care, and franchise finance. He began his career as a tax consultant at Arthur Andersen.
“Charter One’s commitment to growing business in Chicago and its innovative approach to supporting the communities where it does business are an exciting combination,” said Swanson. “I look forward to leading Charter One through continued growth in the greater Chicago area, where the company is already becoming the fourth-largest commercial bank through the acquisition of GreatBanc.”
Swanson received his M.B.A. from the University of Chicago, where he graduated with honors. He is also a graduate of the University of Illinois, where he received a Bachelor of Science in finance.
Swanson resides in Chicago with his wife, Rhonda, and four children. He is vice chairman of the Eleanor Foundation, a member of the Local Initiatives Support Corporation (LISC) board of advisors and a member of the Sheffield Neighborhood Association board. Swanson led the Illinois Middle Market fundraising efforts for the United Negro College Fund in 2005.
About Charter One Bank, N.A.
Charter One Bank, N.A., is a $46 billion bank operating in Illinois, Indiana, Michigan and Ohio. It has 474 branches and more than 800 ATMs. Charter One is a subsidiary of Citizens Financial Group, Inc., a $164 billion commercial bank holding company headquartered in Providence, R.I. Citizens has more than 1,600 branches, approximately 3,200 ATMs and 26,000 employees in a 13-state retail branch network and has non-branch retail and commercial offices in about 40 states. On October 30, 2006, Citizens announced it will acquire GreatBanc, Inc. of Lisle, Illinois. The transaction, scheduled to close during the first quarter of 2007, will make Charter One the fourth-largest commercial banking operation in the greater Chicago area. Citizens is the eighth-largest commercial banking company in the United States ranked by deposits and ninth in assets as of March 31, 2006. Citizens is owned by RBS (The Royal Bank of Scotland Group plc).
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