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Citizens Commercial Banking boosts healthcare finance team with two hires

Citizens Commercial Banking has added Ross Eldridge and Tom Case to its healthcare finance team. Both will focus on middle-market cash flow financings in the $60 million to $1 billion range. Previously, Eldridge was a director at GE Capital Healthcare Financial Services while Case was a vice president at CIT Healthcare. Citizens Commercial Banking is the commercial banking unit of Citizens Financial Group.

PRESS RELEASE

ATLANTA – Citizens Commercial Banking, the commercial banking division of Citizens Financial Group, today announced that it has expanded its healthcare finance team with the addition of Ross Eldridge and Tom Case.

Based in Atlanta, the two new hires will focus on originating senior debt financings to middle-market private equity sponsors and companies across a variety of sectors in the healthcare industry.

Eldridge joins Citizens as a Director from GE Capital Healthcare Financial Services, where he was responsible for originating and structuring debt financings for healthcare clients. Eldridge has more than 10 years of healthcare finance experience.

Case joins Citizens as a Vice President from CIT Healthcare, where he focused primarily on underwriting leveraged buyout transactions with private equity sponsors.

Both executives will report to Russ Herakovich, who leads Citizens’ Healthcare Finance team.

Eldridge and Case both will focus on middle-market cash flow financings in the $60 million to $1 billion range. A typical middle market company in the target range will have EBITDA of $15 million to $300+ million.

“Ross and Tom are great additions to our strong and growing healthcare finance team,” said Steve Woods, Executive Vice President and Head of Corporate Banking. “We are delighted to have them join the team as we deliver financing and other commercial financial services to healthcare companies across the country.”

As part of the national expansion of its commercial bank announced in August, Citizens has hired teams of experienced bankers across its traditional New England, Mid-Atlantic and Midwestern markets and also in the following markets: Atlanta, Washington, DC, Charlotte, NC, Dallas and Los Angeles.

Formerly known as RBS Citizens, Citizens Commercial Banking is the commercial banking division of Providence, RI-based Citizens Financial Group. For more information about Citizens Financial Group, go to citizensbank.com.

About Citizens Financial Group, Inc.
Citizens Financial Group Inc. is one of the nation’s oldest and largest financial institutions, with $130.3 billion in assets as of June 30, 2014. Headquartered in Providence, Rhode Island, the company offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Consumer Banking helps its retail customers “bank better” with mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank and Charter One branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Citizens also provides mortgage lending, auto lending, student lending and commercial banking services in selective markets nationwide. Citizens Commercial Banking offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance.

Citizens operates via subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.