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.
About City National:City National Bank is the wholly owned subsidiary of City National Corporation (NYSE:CYN). It is backed by $27.4 billion in total assets, and provides banking, investment and trust services through 78 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville and Atlanta. The company and its investment affiliates manage or administer nearly $60 billion in client investment assets, including $40.6 billion under direct management. For more information about City National, visit the company's Website at cnb.com
CONTACT: Media Contact: Debora Vrana, 213.673.7631 Debora.Vrana@cnb.com