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City National Bank Expands Small Business Team In Los Angeles Region

Stocks in this article: CYN

LOS ANGELES, Sept. 21, 2012 (GLOBE NEWSWIRE) -- City National Bank has expanded its small business team in the Los Angeles region with the addition of two new team leaders to focus on the needs of entrepreneurs and growing small businesses.

With the expanded Small Business Services Division, bankers will be better able to provide a customized banking relationship including:

  • Focused understanding of each individual business and industry;
  • Solutions centered on deposit, credit, Treasury, International, Wealth Management and fraud prevention products and services; and
  • Two new and highly enhanced business packages that provide a vast array of services for small businesses.

"We give entrepreneurs everything they need – all the products and services, plus a financial quarterback who provides their companies the coordinated service they want for their businesses and their families," said Kevin Dunigan, executive vice president and head of the branch network for City National Bank.

Small businesses are the backbone of America. The nation's nearly 28 million small businesses represent 99% of U.S. employers and accounted for 67% of the net new jobs created between 2009 and 2011, according to the Small Business Administration. In California, the state's 3.4 million small businesses account for 99% of the state's employers and employ 52% of the workforce, according to state figures.

The new team leaders:

  • David Azma will lead the Los Angeles and San Fernando Valley regions. With more than 25 years of experience, he has worked for Wells Fargo and Rabobank.
  • Jim Drake will lead efforts in the Westside region, which includes Century City and Santa Monica. He will also handle the Long Beach area. With more than 25 years of experience, he spent nearly two decades at Citibank.

City National has been serving entrepreneurs since its formation in 1954. For the first six months of 2012, City National's total loans were up 16%. In the first eight months of 2012, City National has made more Small Business Administration loans than in all of 2011.

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