City National Opens First Ground-Floor Branch In New York City

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 new City National office at 1140 Sixth Avenue has some special features. At nearly 13,000 square feet, the two-story office was designed by Bohlin Cywinski Jackson, widely known for the design of Apple, Inc. stores worldwide, with distinctive features such as lounge-type client representative desks that eliminate the typical teller line and a multi-story chiseled French limestone feature wall with stone and glass cantilevered stairs to the second floor.

If you liked this article you might like

New Lifetime High Today: City National (CYN)

New Lifetime High For City National (CYN)

City National (CYN) Reaches New Lifetime High Today

Jim Cramer's Top Stock Picks: MSFT AVT FHN CYN

Jim Cramer's 'Mad Money' Recap: Here's Next Week's Game Plan