Combination of City National Asset Management and Rochdale Investment Management Completed
New Firm Further Strengthens City National's Wealth Management Capabilities
LOS ANGELES, Sept. 10, 2013 (GLOBE NEWSWIRE) -- City National Bank, a wholly owned subsidiary of City National Corporation (NYSE: CYN), today said it has launched City National Rochdale, a registered investment advisory firm that manages $20 billion, and combines City National Asset Management and Rochdale Investment Management."The new firm, City National Rochdale, is a much deeper and more diversified national wealth management firm with broadened capabilities for bank clients and the clients of financial advisors across the nation. City National Rochdale's disciplined research and access to a broad spectrum of asset classes and investment strategies allows us to create truly personalized portfolios," said Richard Gershen, executive vice president and head of wealth management for City National Bank. The firm now includes:
- A senior management team with extensive capabilities in private investment management;
- 180 professionals across the country with headquarters in Los Angeles and New York, and offices in San Francisco, Orlando, Kansas City, Dallas, Denver, Grand Rapids, Potomac and Richmond;
- Broadened capabilities in equity and fixed income research and a new asset allocation framework that integrates leading-edge strategies across all asset classes;
- State-of-the-art, intelligently personalized portfolios centered on a client's personal performance benchmark;
- A new website: www.cnr.com .