Reporting to City National Bank President Christopher Warmuth, Pagano will oversee private banking strategy, business development and client service in California, a state that is home to more than 500,000 households with investable assets of $1 million or more. Working with the company's regional managers and Wealth Management division, he will help coordinate the delivery of credit and depository services as well as trust, investment management, brokerage and advisory capabilities to high-net-worth clients.
"Michael is a great addition to City National's leadership team," said Warmuth. "He's a seasoned professional who for many years has been helping people with their credit needs and the preservation, growth and transfer of their wealth. We expect him to make a very strong contribution as our company continues to sharpen its focus on private banking."
Pagano joined the financial services industry in 1992. For 16 of the past 22 years, he has worked exclusively in wealth management and private banking. He has held a range of client-focused and management roles, including new client development, sales management, investment management, operational infrastructure, and strategic planning and integration.
Until recently, Pagano was southwest region president for the private bank at Bank of America. Based in Los Angeles, he and his team managed $23 billion in assets for clients in Southern California, southern Nevada and Arizona. Before that, he was chief administrative officer for Bank of America's private bank based in Boston.
Pagano is a member of the boards of directors of the Los Angeles Performing Arts Center and Junior Achievement of Southern California.
A native of Colorado, he earned a bachelor's degree in finance and a master's in business administration at the University of Denver.
Pagano resides with his family in Los Angeles and also maintains a home in San Francisco.
About City National
City National Bank is the wholly owned subsidiary of City National Corporation (NYSE:CYN). It is backed by $15.5 billion in total assets, and provides banking, investment and trust services through 62 offices, including 15 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada and New York City.
The company and its nine majority-owned investment affiliates manage or administer more than $57 billion in client investment assets, including $35.9 billion under direct management.
For more information about City National, visit the company's Website at www.cnb.com.
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SOURCE: City National Bank
City National Bank