LAS VEGAS, July 24, 2007 (PRIME NEWSWIRE) - City National Bank today announced that it has begun to make its international banking capabilities available to clients in Nevada with the introduction of its foreign currency exchange service in the Las Vegas area. The bank now offers foreign currency exchange at its recently opened full-service banking office in the Hughes Center business complex at 3883 Howard Hughes Parkway, Suite 100, near Flamingo Road and Paradise. (For an image related to this story, go to http://www.cnb.com/images/intl_banking.jpg.)
The Hughes Center location, which opened May 29, offers private banking and wealth management services. These services, along with the close proximity to the Las Vegas Strip and McCarran Airport, were all factors in the bank's decision to house its foreign exchange services at this location, according to John Guedry, executive vice president and Nevada region manager of City National Bank.
"The demographics of our Hughes Center location and the clients we serve at this facility created a need for foreign exchange services to be offered there," Guedry said. "Providing our clients with the financial needs and solutions that will help them become more successful in their business and personal life is what sets City National apart from the competition."
Guedry added that the bank's international banking products and services extend far beyond its foreign exchange services. Some of these products and services include international trade financing, international currency management, import and export letters of credit, foreign banknotes, export financing, and more.
"Nevada is a natural location to introduce City National's world-class international banking capabilities," said Mark Mayers, senior vice president and manager of the bank's International Banking Services. "Many of our Nevada clients will benefit greatly from our wide array of international banking products and services that will help them compete more successfully in the global markets. We're excited to work with John and his team as we introduce more of the bank's international capabilities to City National clients in Nevada."
The bank is also looking at the possibility of expanding its foreign exchange service capabilities to northern Nevada. "The need for foreign currency in this area will be driven once again by client and market demand, much like it was in southern Nevada," Guedry said.
Guedry went on to say that when the bank decides to make its foreign exchange service available in northern Nevada, it will most likely be located at its McCarran branch in southwest Reno.
About City National
City National Bank is the wholly owned subsidiary of City National Corporation (NYSE:CYN). It is backed by $15.8 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.
City National has eight branch offices in Nevada, including four in Las Vegas and one each in North Las Vegas, Reno, Carson City and Minden. The bank also has loan production offices in Reno and Stateline in South Lake Tahoe.
For more information about City National, visit the company's Website at cnb.com.
CONTACT: City National Bank
Paul C. Stowell