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As part of its proposed sale to Royal Bank of Canada, City National has made a big Community Reinvestment Act commitment, which includes targeting small-business loans at the minority- and women-owned suppliers of three power companies.
June 4 -
City National Bank has agreed to commit $11 billion in Community Reinvestment Act spending over the next five years in connection with its proposed sale to Toronto-based Royal Bank of Canada.
April 24 -
Royal Bank of Canada sold its U.S. retail bank a few years ago to PNC. The company is back with a targeted play: City National, a Los Angeles bank that has built its business targeting the rich and working with Hollywood.
January 22
City National in Los Angeles, which is being
The $32.7 billion-asset company hired Anthony Savino as a senior private banker for its Park Avenue office. Savino previously was a private banker at Morgan Stanley and managed a $2 billion credit portfolio.
Alan Wolberg has joined City National as senior wealth planner. Wolberg previously worked at Bank of America Merrill Lynch as a senior wealth strategist.
City National also hired Carolyn J. Finer as a private investment consultant. She previously was a senior portfolio manager at UBS Financial Services.
"Our East Coast presence is a huge focus at City National Bank and growth here is a primary goal," Scott Witter, leader of Private Client Services in New York, said in a news release. City National opened its New York office in 2002.