“Market Cap $4.4 B As of May 2014
At a Glance
- Industry: Regional Banks
- Founded: 1953
- Country: United States
- CEO: Russell Goldsmith
- Website: www.cnb.com
- Employees: 3,566
- Sales: $1.2 B
- Headquarters: Los Angeles, California
#1910 Global 2000
- #761 in Assets
City National Corp. operates as a bank holding company. It provides a range of banking, investing and trust services to its clients through its wholly owned banking subsidiary, City National Bank. The company operates through three segments: Commercial and Private Banking, Wealth Management, and Other. The Commercial and Private Banking segment provides banking products and services, including commercial and mortgage loans, lines of credit, deposits, cash management services, international trade finance and letters of credit. The Wealth Management segment includes investment advisory affiliates. The Other segment includes the corporate departments, including the treasury department and the asset liability funding center. The company was founded in 1968 and is headquartered in Los Angeles, CA.“
“City National History
The bank was founded in 1954 by a small group of Beverly Hills entrepreneurs. Its offices were in Beverly Hills at 400 North Roxbury Drive. In 1970 its stock began trading over the counter.
In 1963, when Frank Sinatra’s son was kidnapped, the bank put up the $240,000 demanded as ransom money.
In 2000, the bank expanded into Northern California in with the purchase of The Pacific Bank, followed by the acquisition of the Oakland-based Civic BanCorp in 2002. In that same year, City National opened an office in New York City to serve its California-based clientele who do business on both coasts, as well as prospective clients in Manhattan. At about that time, the bank was ranked among America’s top companies by sales, profits, assets and market value in Forbes magazine’s “Super 500” list (2002 and 2003). It was also recognized by Barron’s as one of America’s top wealth managers for five years in a row from 2001 to 2005.
In mid-2011, the bank opened a branch in Nashville, Tennessee to maintain “position as the premier bank to America’s entertainment industry.”
*Information from Forbes.com and Wikipedia.org
**Video published on YouTube by “CareerDashTV“