City National names new head of private banking in L.A.
City National Bank, long known as “Bank to the Stars” because of its show-business connections, has named a new head of private banking for the Los Angeles region.
Nick Zappia will lead City National’s private banking teams in downtown Los Angeles, Pasadena and Manhattan Beach, the $51.1 billion-asset bank said in a press release Tuesday.
Zappia was previously the director of the West region for the private banking unit at the Bank of New York Mellon. “Nick is an accomplished, respected leader, with deep roots in Los Angeles,” Michael Pagano, City National’s executive vice president for private banking, said in the press release.
Zappia will fill a role previously occupied by Peter Barbara, who is moving into a newly created position at City National. Barbara will be responsible for the integrated delivery of investment solutions and services for the private banking division, the company said.
Los Angeles-based City National operated independently until 2015, when it was acquired by Royal Bank of Canada. Last month, the RBC subsidiary got a new CEO in Kelly Coffey, who previously headed the U.S. private bank at JPMorgan Chase.
Coffey succeeded Russell Goldsmith, who served as CEO for more than two decades and remains the bank’s chairman.