NEW YORK, June 10, 2013 (GLOBE NEWSWIRE) -- City National Bank announced today that it has opened its first ground-floor banking office in Manhattan on the corner of 6 th Avenue and 44 th Street as part of its continuing expansion in New York City, which it began in 2002. The company's growing New York Entertainment Division will move to the full second floor above the new branch from its current location on Park Avenue to be closer to the Broadway theater district. In addition, City National will open a second ground-floor office in its New York headquarters building on Park Avenue later this fall. "City National has been successfully growing its team and its client base in Manhattan for the last decade, serving the city's entrepreneurs, professionals, investors and their families, primarily in the entertainment, legal and small business sectors," said Russell Goldsmith, chairman and chief executive officer of City National Bank. "With this new branch, and the one we will open later this year on Park Avenue, we are expanding our commitment and capabilities and accessibility and visibility in New York City to provide our clients with a fuller range of City National resources and services," Goldsmith said. "The branches are designed to deliver a personal, service-oriented, client-friendly banking and investment experience that combines state-of-the-art technology, outstanding personnel, and special architectural and aesthetic features reflective of the unique premier private and business bank that City National is today." This new branch will bring the total number of City National colleagues in the state of New York to nearly 300, with 200 of them located in Manhattan.
- City National currently provides banking services for more than half of all the Broadway shows, including "Book of Mormon," "Kinky Boots" and "Lucky Guy."
- The company provides banking and wealth management for more than 60 law firms as well as many other businesses and professional service firms throughout Manhattan and the surrounding tri-state area.
- Last year, City National made two acquisitions in the state of New York. The bank purchased Rochdale Investment Management, which is headquartered in Manhattan and is being combined with City National Asset Management to form City National Rochdale, with $19 billion* in client assets. It also purchased nationwide equipment leasing firm First American Equipment Finance, with $325 million in assets, headquartered in Rochester, New York.
- City National is now the 24 th largest American commercial bank and has been listed by Barron's as one of the nation's top 40 wealth management firms for the past 12 consecutive years.
The stairway, meant to draw people into the welcoming open bank space, as well as connect the bank with the upper level, is representative of City National Bank's trademarked ladder logo and slogan "The way up." For more information on the new branch at 6 th and 44 th, click here: https://www.cnb.com/nybank ."We are pleased that more New Yorkers will be able to experience City National's unique, award-winning culture of client service," said Kevin Dunigan, executive vice president and Core Banking division manager. Martha Henderson, City National's head of Entertainment and regional executive for New York added, "As the premier private and business bank in the communities we serve, we are well-known in the West and now, increasingly in New York as well." City National's Sixth Avenue management colleagues include:
- Richard McCune: With more than 20 years of experience at City National, McCune is senior vice president and Entertainment team manager for City National Bank's New York office. He oversees a staff of 25 colleagues who deliver complete financial solutions to entertainment clients, including those in media, film, theater and music, as well as entertainment law firms, business managers and accountants. He joined City National as a senior relationship manager with its Entertainment Division in 1993, specializing in film and television production lending. McCune moved to the New York office in 2005.
- Joe Sedillo: A veteran City National banker, Sedillo is a senior vice president and the branch manager for the 6 th and 44 th office. Working closely with an outstanding team of experts and trusted advisors, he helps deliver the bank's full range of financial solutions, including business deposit accounts, treasury services, commercial lending, lines of credit, term loans and real estate, SBA lending, trade finance and international banking. Sedillo joined City National in April of 2000, as manager for City National's San Francisco main branch.
CONTACT: Media Contact: Debora Vrana, City National Bank, 213.673.7631 Debora.Vrana@cnb.com