Barclays Bank finance chief Aunoy Banerjee will join Citizens Financial Group as its CFO and executive vice president, effective Oct. 24.
Banerjee, who will report to Citizens CEO Bruce Van Saun, will replace Citizens’ current CFO John Woods, who will depart Friday for the CFO role at State Street after eight years with Citizens. Chris Emerson, head of corporate planning and enterprise finance at Citizens, will fill the CFO role at the Providence, Rhode Island-based lender in the interim.
“[Banerjee’s] experience in leading finance functions at multiple large financial institutions and overseeing highly complex transformation and optimization programs positions him well to have immediate impact as we execute our ambitious growth and transformation agenda,” Van Saun said in a prepared statement.
Banerjee joined Barclays as CFO in April 2024, according to his LinkedIn profile. He previously spent eight years at State Street, most recently as its chief transformation officer, where he focused on simplifying operations enterprise-wise, along with increasing operating margin and productivity.
Prior to that, he spent 11 years at Citi, ultimately as managing director of the markets and securities services business; he began his career at General Electric in its finance management leadership program.
“I could not be more excited to be joining Citizens to help drive sustainable growth and value for all of its stakeholders,” Banerjee said in a prepared statement. “The Bank has been on an exciting and transformational journey, and I look forward to partnering with Bruce and the leadership team to help take Citizens to the next level.”
Piper Sandler analysts R. Scott Siefers and Frank Williams wrote Tuesday that Banerjee “should be quite capable in this position” given prior experience, which includes leadership roles with “plenty of large & complex bank finance experience.”
“We view Mr. Banerjee as a good fit and are glad to see this important position filled,” Siefers and Williams wrote.
Banerjee oversees a £1.1 trillion balance sheet at Barclays Bank, and he co-leads the firm’s investment bank simplification initiative, which was first announced in February 2024
In a Barclays Bank LinkedIn post published three weeks ago, Banerjee said on camera that his passion comes from the quote, “It's not the fastest or the strongest or the most talented team which wins all the time, but the team which always wins is the team that believes it can.”
“My passion is to ensure that, how do we build that winning spirit in a team and develop the right skillsets and the right processes to have that winning spirit?” he said in the video.
A Barclays Bank spokesperson did not respond to an inquiry about its CFO succession.
