Citizens Financial Group Inc. will soon be a financial face of the New York City Marathon and local running community as the bank looks to expand its presence in the metro market.
The firm entered a five-year deal to be the official bank of New York’s marathon, the 26.2-mile race that winds through the city’s five boroughs. Citizens also agreed to back New York Road Runners, the organization that puts on the premier event and other, shorter races throughout the year, according to executives.
Citizens entered the New York metro market last year through its acquisition of HSBC Holdings Plc’s East Coast branches and New Jersey-based Investors Bank. It now has more than 200 branches in greater New York City, Long Island and New Jersey. It also added a private-banking team based in New York after the fall of First Republic bank.
Historically, Citizens’ retail presence was predominantly in Boston, Connecticut, northern New Jersey and upstate New York, but there was a “a hole in the New York City metro area that logically made sense as we grow our business,” Johnson said. Citizens also said it will be the title sponsor for the renamed Citizens Queens 10K, a marathon qualifying race with over 10,000 participants in June. The bank’s name and signage, including on a double-decker bus, will be visible at this year’s New York marathon, to be held on Sunday, Nov. 5.
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