Citizens Banking Corporation Appoints Head of Wealth Management.

Business Editors

FLINT, Mich.--(BUSINESS WIRE)--Aug. 28, 2003

Citizens Banking Corporation (Nasdaq:CBCF), parent company of Citizens Bank and F&M Bank names James A. Schmelter as executive vice president and head of its wealth management line of business which includes private banking, brokerage, asset management, financial planning, and personal and corporate trust services. Schmelter has also been appointed president and chief executive officer of Citizens Bank Wealth Management, N.A., Citizens' Wealth Management subsidiary.

Commenting on the appointment, Citizens Banking Corporation chairman, president and chief executive officer, William R. Hartman said, "Jim is a proven banker, manager and business developer who will bring great relationship management skills and judgement to our wealth management function. He is a strong leader with excellent business acumen. His diverse experience in middle market, international banking and private client services will help Citizens expand existing and new client relationships while taking advantage of our new product capabilities." Schmelter will assume his responsibilities on September 8.

In making the announcement, Hartman praised Dale Sielaff, senior vice president who has served as interim head of Citizens' wealth management function during the search. He said, "Under Dale's leadership, we took the necessary steps to dramatically improve our product capability to meet the needs of our clients. Dale's contributions toward the achievement of the company's Vision will be lasting." Sielaff will assist Schmelter in the transition and continue as a senior vice president in a leadership role in wealth management.

Prior to joining Citizens, Schmelter was senior vice president and head of Private Client Services for Bank One Corporation's Cleveland, Ohio market. In this position he was responsible for managing private banking, trust, and investment business with high net worth clients throughout Northeast Ohio. Previously, he was a first vice president of Middle Market Banking in Bank One's Cleveland market where he managed a portfolio and sold a variety of credit, capital markets, treasury management, and international banking products. Prior to this position, he was vice president for the company's International Banking division and acted as sales manager for a large corporate international account portfolio in Ohio, Michigan and Indiana.

Schmelter began his career with Bank One's predecessor NBD in 1989. After completion of the NBD corporate banking training program he spent the next three years lending to middle market companies in Southeast Michigan. In 1993, he was appointed second vice president of the company's international division in Detroit, Michigan where he managed corporate and correspondent banking relationships in Greater China, Southeast Asia and Australia. In 1995, he relocated to Hong Kong and was promoted to general manager of NBD's Hong Kong branch. In that role, he was responsible for managing sales, relationship management, and operations for Greater China. In 1996, he became vice president and director of Corporate Banking in the Hong Kong branch of the combined First Chicago NBD.

Schmelter has a master of business administration with a concentration in Marketing and Finance from Indiana University. He received his bachelor of arts in Materials & Logistics Management from Michigan State University.

He has been an active member in many civic and community organizations in Cleveland including trustee for the Rotary Club of Cleveland and the Cleveland Opera. He also served on the board for the Greater Cleveland Council of the Boy Scouts of America and the Cleveland Bridge Builders.

Citizens Banking Corporation is a diversified financial services company, providing a wide range of commercial, consumer, mortgage banking, trust investment and financial planning services to a broad client base. With a long-standing tradition of community banking, Citizens Banking Corporation serves markets through Citizens Bank offices in Michigan, suburban Chicago, Illinois, and through F&M Bank offices in Wisconsin, and Iowa with 177 banking offices. Citizens has banking assets of $7.5 billion.