#United States #Wealth Management #Wellesley #First Citizens Bank #Boston expansion

First Citizens Bank Expands Its Presence in Boston

First Citizens Bank & Trust Company, a subsidiary of First Citizens BancShares, Inc., recently announced an exciting new development aimed at enhancing its services in the Boston area. This strategic move involves the purchase of a property located at 26 Washington Street in Wellesley, Massachusetts. The bank plans to transform this site into a modern office and branch space, which is part of their ongoing commitment to serving a diverse clientele through consumer, wealth, and business banking solutions.

New Location Details

The upcoming facility, expected to be completed by 2028, will introduce an additional approximately 15,000 square feet of space. It will feature a hybrid format designed to meet the evolving needs of clients, combining traditional branch functionalities with modern meeting spaces tailored specifically for First Citizens Wealth clients. This new development will replace the existing branch at 336 Washington Street, highlighting the bank's dedication to providing superior service in a convenient location.

First Citizens currently operates five branches within the greater Boston area including locations at 35 State Street, 450 Boylston Street, 265 Main Street in Cambridge, 336 Washington Street in Wellesley, and 57 Enon Street in Beverly. This expansion signifies their goal to increase presence and convenience for existing and prospective clients in this strategic market.

Growing Workforce and Client Base

The bank has steadily increased its workforce in the Boston area, recently hiring 15 new employees within its wealth management division since 2024. They emphasize the importance of a tailored, high-touch approach to client relationships, ensuring that the personal service offered aligns with the expectations of their clientele. Ron Sanchez, Regional Executive Vice President for First Citizens Bank, noted, "Boston is a significant market for us, and this is an exceptional location to serve existing and new clients. Increasing our investment in this region will give our experienced teams and our existing and new clients a setting that matches the personalized experience they expect."

This effort will not only enhance banking capabilities but will also foster a continued relationship-focused service approach, which is tailored to meet the high standards of their clientele in Wellesley and the surrounding communities.

About First Citizens Bank

Headquartered in Raleigh, North Carolina, First Citizens Bank has built a strong legacy marked by stability and long-term success. The bank provides a range of financial services to personal, business, commercial, and wealth clients. With over $200 billion in assets, First Citizens BancShares is recognized as one of the top 20 financial institutions in the United States and is included in the Fortune 500™ list. As they continue to expand their footprint, First Citizens Bank remains committed to developing banking solutions that foster financial strength for its clients.

To learn more about their services and ongoing developments, visit First Citizens Bank.

Conclusion

The expansion plan set forth by First Citizens Bank is indicative of its strategic commitment to growth and service enhancement in the Boston region. By investing in new facilities and workforce, the bank is poised to meet the increasing demand for personalized banking services in a highly competitive market. As they move towards the projected completion of the new branch in 2028, First Citizens Bank continues to prioritize client-centered solutions with an eye on the future.