LOS ANGELES, Jan. 04, 2019 (GLOBE NEWSWIRE) -- City National Bank celebrates its 65 th year in business today.
The bank first opened its doors to the public on January 4, 1954, in Beverly Hills. Founded by a small group of entrepreneurs to serve entrepreneurs, professionals and their families, City National became the largest bank headquartered in Los Angeles in 1996, as it continues to be today. City National has grown, both in California and in select metropolitan areas in the U.S., with nearly 5,000 colleagues, more than $50 billion in assets and more than $60 billion in client investment assets.
“Sixty-five years ago, our founders gave City National a solid beginning, strong values and a compelling value proposition,” said Chairman and CEO Russell Goldsmith. “Our dedicated team of colleagues, our clients and a culture that rests on strong values, great products and exceptional service have served us well. We are very grateful for the opportunity to serve so many remarkable clients and communities.”
City National provides banking, investment and trust services through 71 offices across Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville, Atlanta, Minneapolis and Washington, D.C. The company is a subsidiary of Royal Bank of Canada, one of North America’s safest and strongest financial services companies. RBC serves more than 16 million personal, business, public sector and institutional clients through offices in Canada, the United States and 34 other countries and includes RBC Wealth Management – U.S. in Minneapolis and RBC Capital Markets in New York.
City National provides tailored financial solutions and capabilities for entrepreneurs, professionals, their businesses and their families offering various services, including private banking, commercial banking, real estate and specialty banking expertise. City National is also particularly known as the leader in meeting the financial needs of the entertainment industry across the U.S.
For 65 years, City National has been committed to supporting the communities where its colleagues and clients work, live and conduct business. As the bank has grown, so has its ability to support these communities.
- In 2019, City National will contribute $13 million in community investment, a 55 percent increase from the $8.4 million it invested last year.
- Additionally, City National’s colleague-driven workplace giving program raised a record $1.6 million in 2018, which supported the American Red Cross, United Way and many other charitable nonprofits.
- City National has awarded more than $1.5 million in literacy grants and more than 800,000 books to teachers in California, Nevada, New York, Tennessee, Georgia, Minnesota and Washington, D.C., in the 17 years since its Reading is The way up literacy program began.
- As part of the RBC merger in 2015, City National announced an $11 billion, five-year commitment for community lending, investment, charitable contributions, supplier diversity and other activities outlined in the Community Reinvestment Act (CRA).
About City National Bank
With $50.3 billion in assets, City National Bank provides banking, investment and trust services through 71 offices, including 19 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville, Atlanta, Minneapolis and Washington, D.C. In addition, the company and its investment affiliates manage or administer $67.5 billion in client investment assets.
City National is a subsidiary of Royal Bank of Canada (RBC), one of North America’s leading diversified financial services companies. RBC serves more than 16 million personal, business, public sector and institutional clients through offices in Canada, the United States and 34 other countries.
For more information about City National, visit the company’s website at cnb.com .
Media Contact: Debora Vrana, City National Bank, 213-673-7631 Debora.Vrana@cnb.com
