BOSTON, July 17, 2013 (GLOBE NEWSWIRE) -- In a move that expands its growing technology and venture capital banking business to the East Coast, City National Bank has added two seasoned bankers and opened a loan production office in Boston.
The bankers, William Sweeney and James Demoy, will be responsible for providing technology companies and entrepreneurs with a wide array of credit, banking and investment solutions.
"City National is committed to meeting the financial needs of technology entrepreneurs and their companies and investors - no matter where they are located in the U.S. - by providing them experienced talent along with outstanding banking and investment capabilities," said City National Bank President Christopher Warmuth. "Clearly the long-standing and vibrant tech community in greater Boston was a very logical expansion location for City National's technology focus once we were able to bring Bill and Jim on board."William Sweeney joins City National as senior vice president and regional director. Sweeney is a Massachusetts native with more than 15 years of experience in technology lending. He was recently a managing director at Comerica Bank and ran its Waltham office. There, he was responsible for leading a team in originating and closing financing transactions for venture and private equity backed companies. Sweeney is a graduate of Suffolk University and received his master's degree in business administration from the F.W. Olin School of Business at Babson College in Wellesley, Mass. He will report to Rod Werner, senior vice president and managing director of technology and venture capital banking for City National in San Francisco. City National has also hired James Demoy from Comerica as vice president and senior relationship manager. Demoy has been a technology banker for more than 15 years, working with venture and private equity backed companies. In addition, he has more than 25 years of experience in banking in a variety of roles, including providing credit products to venture capital firms. He is a graduate of Bentley University in Waltham, Mass., with a bachelor's degree in finance. He will report to Sweeney.