Ellen Alemany

Ellen Rose Alemany is an American business executive. She is the Vice Chairwoman of First Citizens BancShares. She was formerly the chairwoman of CIT Group.

Ellen Alemany
Ellen Alemany
Born
Ellen Rose Alemany

New York, New York, U.S.
NationalityAmerican
Alma materAcademy of Mt. Saint Ursula
University of Bridgeport
Fordham University
OccupationVice Chairwoman of First Citizens BancShares
SpouseJoaquin Alemany
Children3, including Jacqueline Alemany

In 2020 she was included in a list of "most powerful women in banking" published by American Banker.[1]

Early life and education

Alemany was raised in the Bronx, New York, the daughter of Italian immigrants who operated a liquor store.[2] She graduated with a B.A. in English literature from the University of Bridgeport.[2] After school she took a job in the legal department at IBM and then at Chase Manhattan where she worked in process engineering while attending graduate school in the evenings.[2]

She received an MBA from Fordham University with a specialization in finance in 1980.[3] She completed the Credit Training Program at Chase Manhattan Bank in 1981.[4] She has honorary doctorates from Bryant University and Fordham University.[5][6]

Career

From 1977 to 1987, Alemany worked at Chase Bank.[7] In 1987, Alemany joined Citibank and held various positions including CEO for Global Transaction Services,[8] executive vice president for the Commercial Business Group, which includes CitiCapital,[9] the Commercial Markets Group and the Commercial Real Estate Group.[10] Alemany joined RBS Americas as chairman and CEO in 2007.[11] In 2008, Alemany was named CEO of RBS Citizens Financial Group, and was appointed chairman and CEO in 2009.[12] She was also a member of the Royal Bank of Scotland Group's executive committee, RBS's nine-member executive leadership team.[13][14] She also served as CitiCapital president and CEO.[10][15] In October 2013, she retired as chairman and CEO of RBS Citizens Financial Group and RBS Americas.[16]

She came out of early retirement to become the CEO of CIT Group in April 2016 and became chairwoman in May 2016.[17] Her strategy there was to concentrate on the core activities of the company, and dispose of unprofitable subsidiaries.[18] An increase in the number of female executives in the company has been attributed to her.[19]

In 2020 First Citizens BancShares agreed to buy CIT for $2.2 billion, and offered Alemany a position as vice-chair, with a salary of $1 million and guaranteed bonus of almost $6.9 million per year, conditional on her remaining with the company for two years.[20][21]

Other positions

Alemany was the First District representative on the Federal Advisory Council from 2008 to 2010.[22]

She has been on the board of the Center for Discovery since 2008,[23] of Automatic Data Processing since 2012,[24] of Fidelity National Information Services since 2014,[25] of Operation HOPE since 2015[26][27] and of Dun & Bradstreet since 2021.[28] From 2002 to 2010 she was on the board of the New York division of March of Dimes.[3]

She is on the board of Catholic Charities of the Archdiocese of New York[29] and the advisory board of the Mayor's Fund to Advance New York City, and is a trustee of The Conference Board.[30]

Personal life

She is married to Joaquin "Jack" Alemany; they have three children, including Jackie Alemany.[18]

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).[31]
  • 2009 - Alemany named to Forbes Magazine "One of the World's Most Powerful Women" list.[32]
  • 2011 - Recipient of the Foreign Policy Association Corporate Social Responsibility Award.[33]
  • 2012 - Connecticut Women's Hall of Fame 2010 Honoree.[34]
  • 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.[35]
  • 2017 – American Banker Most Powerful Women in Banking (#3)[36]
  • 2018 - Alemany was named the winner of the Peter G. Peterson award by the Conference Board's Committee for Economic Development.[37]
  • 2018 – American Banker Most Powerful Women in Banking (#3)[19]
  • 2019 – Crain's New York Business Notable Women in Banking[38]
  • 2019 – Women's Bond Club Merit Award[39]
  • 2019 – The Center for Discovery honoree[40]
  • 2019 – American Banker Most Powerful Women in Banking (#2)[41]
  • 2020 – Darla Moore School of Business Center for Executive Succession Leadership Legacy Award
  • 2020 – American Banker Most Powerful Women in Banking[1]
  • 2021 – Crain's New York Business Notable Women on Wall Street[42]

References
  1. Kline, Allissa (September 29, 2020). "Most Powerful Women in Banking: Ellen Alemany, CIT Group". American Banker.
  2. Broughton, Kristin (September 26, 2017). "How Ellen Alemany is reinventing CIT". American Banker.
  3. "Citigroup appoints Ellen Alemany CEO of global transaction services". Finextra. 23 January 2006. Retrieved August 28, 2015.
  4. "Most Powerful Women in New York 2007". Crain's New York. September 16, 2007.
  5. "Citizens Financial executive honored by magazine". The Day. 9 October 2011.
  6. "Past Honorary Degree Recipients". Fordham. Retrieved 9 November 2021.
  7. "Ellen Alemany capitalizes on 'around the corner, around the globe'". Boston Herald. 2010-03-01. Retrieved 2019-08-15.
  8. "Citigroup appoints Ellen Alemany CEO of global transaction services". Finextra Research. 2006-01-23.
  9. "Ellen R. Alemany | Los Angeles Business Journal". labusinessjournal.com. 30 July 2018.
  10. "Fireside Chat with Ellen Alemany, Chair and CEO of CIT Group". Fordham Newsroom. 20 May 2023.
  11. "RBS Drafts Big Hitter From Citigroup". Forbes. Retrieved 2021-09-19.
  12. "#17 Ellen Alemany". American Banker. 2009-10-01.
  13. "Ellen Alemany elected to National Constitution Center Board of Trustees". www.rbs.com. Retrieved 2021-09-19.
  14. "RBS Group" (PDF). 2011. Archived (PDF) from the original on 2022-01-26.
  15. "LEADERS Interview with Ellen R. Alemany, Chairwoman and Chief Executive Officer, CIT Group". www.leadersmag.com.
  16. "RBS Citizens Financial Group Announces CEO Succession Plan". Citizens Bank. Retrieved August 28, 2015.
  17. Wack, Kevin (2019-09-23). "Most Powerful Women in Banking: No. 2, CIT Group's Ellen Alemany". American Banker. Archived from the original on 2020-07-18. Retrieved 2020-03-18.
  18. Broughton, Kristin (September 26, 2017). "How Ellen Alemany is reinventing CIT". American Banker.
  19. Broughton, Kristin (24 September 2018). "Most Powerful Women in Banking: No. 3, CIT Group's Ellen Alemany". American Banker. American Banker. Retrieved 17 March 2019.
  20. Reuters staff (16 October 2020). "Regional lender First Citizens to buy CIT in $2.2 billion deal". Reuters. Retrieved 9 November 2021. {{cite news}}: |last1= has generic name (help)
  21. Davis, Paul (20 October 2020). "CIT chief Ellen Alemany set to receive large bonus from First Citizens merger". American Banker. Retrieved 9 November 2021.
  22. "The Federal Reserve Board 95th Annual Report". The Federal Reserve Board. Retrieved August 28, 2015.
  23. "Center for Discovery-Board of Directors". The Center for Discovery. Retrieved 28 August 2015.
  24. "Board of Directors/ Automatic Data Processing". Automatic Data Processing. Archived from the original on September 11, 2015. Retrieved August 28, 2015.
  25. "Ellen Alemany Joins FIS Board of Directors". FIS. Retrieved August 28, 2015.
  26. "Operation HOPE Global Board".
  27. "Launch & Grow".
  28. "DNB Board". investor.dnb.com/. Retrieved 12 November 2021.
  29. "Board of Trustees". Catholic Charities of the Archdiocese of New York. Retrieved 5 November 2021.
  30. CIT Group. "Ellen Alemany bio". Executive Management Bio. CIT Group. Retrieved 17 March 2019.
  31. "100 Most Influential People in Finance". Treasury & Risk. Retrieved August 28, 2015.
  32. "The World's 100 Most Powerful Women". Forbes. Retrieved August 28, 2015.
  33. "Foreign Policy Association 2011 Annual Dinner". Foreign Policy Association. Retrieved August 28, 2015.
  34. "Induction Ceremony 2010". Connecticut Women's Hall of Fame. Retrieved August 28, 2015.
  35. "The Most Powerful Women in Banking". Source Media. Retrieved August 28, 2015.
  36. "Most Powerful Women in Banking: No. 3, CIT Group's Ellen Alemany". American Banker. 2017-09-25. Archived from the original on 2017-09-25.
  37. Peters, Andy (26 September 2018). "Mooney, Alemany to receive Conference Board leadership awards". American Banker. Retrieved 17 March 2019.
  38. "Notable Women of Banking & Finance - Ellen Alemany". Crain's New York Business. 2019-03-11. Archived from the original on 2021-01-16.
  39. RTSWS (2019-04-30). "RTSWS Founder Delivers Impassioned Speech To Women's Bond Club, Larry Fink, Other Financial Executives". Rock The Street, Wall Street. Archived from the original on 2020-04-23.
  40. "The Center For Discovery". The Center For Discovery. 2019-05-07. Archived from the original on 2001-11-03.
  41. "Most Powerful Women in Banking: No. 2, CIT Group's Ellen Alemany". American Banker. 2019-09-23. Archived from the original on 2020-07-18.
  42. "Notable Women on Wall Street 2021". Crain's New York Business. 2021-02-18. Retrieved 2021-08-08.
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