Ellen Alemany

Ellen Rose Alemany is an American business executive. She is the Chairwoman and Chief Executive Officer of CIT Group, one of the top 50 largest banks in the United States. Alemany also leads the principal bank subsidiary, CIT Bank, N.A., as its Chairwoman and Chief Executive Officer.[1] Prior to joining CIT, Alemany was the Head of RBS Americas, the management structure that oversees The Royal Bank of Scotland’s businesses in the Americas, and Chief Executive Officer of RBS Citizens Financial Group, Inc., an RBS subsidiary, until she retired in September 2013.[1]

Ellen Alemany
Born
Ellen Rose Alemany

New York, New York, U.S.
NationalityUnited States
Alma materAcademy of Mt. Saint Ursula
University of Bridgeport
Fordham University
OccupationChairwoman and CEO of CIT Group
Chairwoman and CEO of CIT Bank
Spouse(s)Joaquin Alemany
Children3, including Jacqueline

Alemany is on the boards of CIT, Fidelity National Information Services, Operation HOPE, Inc., The Center for Discovery, and Partnership for New York City. She also serves on the Board of Advisors for the Mayor’s Fund to Advance New York City and the Board of Trustees for The Conference Board.[2]

In 2019, Alemany was named by American Banker as the second most powerful woman in banking.[3]

Early life and education

Ellen Rose Alemany was born in New York City to William P. Luciani and Lucy M. Luciani. She attended secondary school at the Academy of Mount Saint Ursula in The Bronx, New York. After graduating from the Academy of Mount Saint Ursula High School in 1973, Alemany enrolled at the University of Bridgeport where she graduated in three years in 1976 with a bachelor's degree in English literature. Alemany was awarded a master's in business administration from Fordham University Graduate School of Business with a specialization in finance in 1980.[4] She completed the Credit Training Program at Chase Manhattan Bank in 1981.[5]

In 2011, she received an honorary doctorate from Bryant University.[6]

Career

Citibank

From 1977 to 1987, Alemany worked at Chase Bank.[7] In 1987, Alemany joined Citibank and held various positions including Executive Vice President for the Commercial Business Group, which includes CitiCapital, the Commercial Markets Group and the Commercial Real Estate Group. CitiCapital, where she also served as President and CEO, was the second-largest bank-owned leasing company in North America.

She held a number of executive positions in Citigroup's Global Corporate Bank, including Customer Group Executive of North American Markets, Global Industry Head of Media and Communications, and U.S. Industry Head of Consumer Products, before being appointed Executive Vice President of Citibank and Customer Group Executive for the Global Relationship Bank in Europe, based in London, in 1999. She also served as Chairman and CEO for Citibank International plc, Citibank's European bank; Country Corporate Officer for the United Kingdom; and member of the Board of Citibank, N.A.

RBS Citizens Financial Group

Alemany joined RBS Americas as chairman and CEO in 2007. In 2008, Alemany was named CEO of RBS Citizens Financial Group, the country's 12th largest bank by assets[8] and was appointed chairman and CEO in 2009. RBS Citizens is a commercial bank holding company regulated by the Federal Reserve Bank of Boston. Alemany managed 19,000 employees over a 12 state retail and commercial banking footprint stretching from New England through the Mid-Atlantic and into three states in the Midwest.

Alemany chaired RBS Citizens Financial Group and RBS Citizens, N.A.[9] She was also a member of the Royal Bank of Scotland Group's executive committee, RBS's nine-member executive leadership team. In October 2013, she retired as chairman and CEO of RBS Citizens Financial Group and RBS Americas.[10]

CIT Group

Alemany came out of early retirement to become the CEO of CIT Group in April 2016 and became chairwoman in May 2016.[11] Upon taking over as CEO, Alemany began simplifying the company by focusing on lending and deposit-gathering.[12] CIT has since divested from its riskier, non-core businesses, which required the company to exit its international presence.[13]

Alemany has also been credited with increasing the number of women in CIT's senior ranks. There were only two women on CIT's executive team when Alemany took over as Chairwoman and CEO of CIT. As of September 2018, there were five women on the 15-member panel, in roles such as chief technology and operations officer and chief credit officer. Additionally, women currently account for one-third of CIT’s board.[14]

Other positions

Federal Advisory Council

Alemany was appointed as the First District Representative on the Federal Advisory Council that advises the Board of Governors of the Federal Reserve System. Alemany served a three-year term from 2008-2010.[15]

Alemany served as Treasurer and Executive committee member of the Financial Services Roundtable, board member of The Clearing House Payments Company, board member of Depository Trust and Clearing Corporation and board member of The Equipment Leasing & Finance Association.

Current boards

Alemany has been serving on the board of Operation HOPE since 2015. HOPE is a global non-profit working to eradicate poverty and create an inclusive economy that works for all. Alemany has worked with HOPE to create the Launch and Grow initiative to inspire and promote female entrepreneurship [16][17]

Alemany has been serving on the board of Automatic Data Processing (ADP) since 2012. ADP is one of the largest providers of business processing and cloud based solutions to employers around the world.[18]

Alemany joined the board of CIT in January 2014. CIT provides commercial financing, lending, leasing and advisory services to small and middle market businesses.[19]

In 2014, Alemany joined the board of Fidelity National Information Services (FIS), the world's largest global provider of banking and payments technology, consulting and outsourcing solutions.[20]

Alemany has been serving on the Center for Discovery Board of Directors since 2008.[21] From 2002-10, she was a Member of the Board of Directors of the March of Dimes (NY Division).[4]

Personal life

She is married to Joaquin "Jack" Alemany; they have three children, including Jacqueline Alemany.[22] The other two named are David and Ellen Jr., who has cerebral palsy.[23]

Awards and honors
  • 2007 - Alemany named to Treasury and Risk's list of the 100 Most Influential People in Finance (Bankers Redefining Their Role and Watching Their Backs).[24]
  • 2009 - Alemany named to Forbes Magazine "One of the World's Most Powerful Women" list.[25]
  • 2011 - Recipient of the Foreign Policy Association Corporate Social Responsibility Award.[26]
  • 2012 - Connecticut Women's Hall of Fame 2010 Honoree.[27]
  • 2012 - Alemany was honored by the Center for Discovery, a non-for-profit provider of educational health and residential services for children and adults with severe disabilities, for her leadership as a board director, advocate and parent.
  • 2013 - American Banker Lifetime Achievement Award. American Banker recognized Alemany's contributions and influence, naming her nine times to its annual list of the 25 Most Powerful Women in Banking.[28]
  • 2018 - Alemany was named the winner of the Peter G. Peterson award by the Conference Board's Committee for Economic Development.[29]

References
  1. "CIT Group 2019 Proxy Statement". Securities and Exchange Commission. Retrieved 28 April 2019.
  2. CIT Group. "Ellen Alemany bio". Executive Management Bio. CIT Group. Retrieved 17 March 2019.
  3. "Most Powerful Women in Banking: No. 2, CIT Group's Ellen Alemany". American Banker. 2019-09-23. Retrieved 2020-05-15.
  4. "Citigroup appoints Ellen Alemany CEO of global transaction services". Finextra. Retrieved August 28, 2015.
  5. "Most Powerful Women in New York 2007". Crain's New York. September 16, 2007.
  6. "Citizens Financial executive honored by magazine". The Day. 9 October 2011. Retrieved 2019-08-15.
  7. "Ellen Alemany capitalizes on 'around the corner, around the globe'". Boston Herald. 2010-03-01. Retrieved 2019-08-15.
  8. "2011 Annual Report" (PDF). Citizens Financial Group 2011 Annual Report. Citizens Financial Group. Retrieved March 10, 2017.
  9. "RBS Announces Ellen Alemany as Chairman of Citizens Financial Group". PR Newswire. Retrieved August 28, 2015.
  10. "RBS Citizens Financial Group Announces CEO Succession Plan". Citizens Bank. Retrieved August 28, 2015.
  11. Wack, Kevin (2019-09-23). "Most Powerful Women in Banking: No. 2, CIT Group's Ellen Alemany". American Banker. Retrieved 2020-03-18.
  12. "How Ellen Alemany is reinventing CIT". American Banker. American Banker.
  13. "The Way Forward" (PDF). Credit Suisse Financials Conference. Credit Suisse Financials Conference.
  14. Broughton, Kristin. "Most Powerful Women in Banking: No. 3, CIT Group's Ellen Alemany". American Banker. American Banker. Retrieved 17 March 2019.
  15. "The Federal Reserve Board 95th Annual Report". The Federal Reserve Board. Retrieved August 28, 2015.
  16. "Operation HOPE Global Board".
  17. "Launch & Grow".
  18. "Board of Directors/ Automatic Data Processing". Automatic Data Processing. Archived from the original on September 11, 2015. Retrieved August 28, 2015.
  19. "Ellen R. Alemany/CIT Board Member". CIT Group Inc. Archived from the original on September 27, 2015. Retrieved August 28, 2015.
  20. "Ellen Alemany Joins FIS Board of Directors". FIS. Retrieved August 28, 2015.
  21. "Center for Discovery-Board of Directors". The Center for Discovery. Retrieved 28 August 2015.
  22. Broughton, Kristin (September 26, 2017). "How Ellen Alemany is reinventing CIT". American Banker.
  23. "The Center For Discovery". The Center For Discovery. 2019-05-07. Retrieved 2020-02-14.
  24. "100 Most Influential People in Finance". Treasury & Risk. Retrieved August 28, 2015.
  25. "The World's 100 Most Powerful Women". Forbes.com LLC. Retrieved August 28, 2015.
  26. "Foreign Policy Association 2011 Annual Dinner". Foreign Policy Association. Retrieved August 28, 2015.
  27. "Induction Ceremony 2010". Connecticut Women's Hall of Fame. Retrieved August 28, 2015.
  28. "The Most Powerful Women in Banking". Source Media. Retrieved August 28, 2015.
  29. Peters, Andy. "Mooney, Alemany to receive Conference Board leadership awards". American Banker. Retrieved 17 March 2019.
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