LOS ANGELES, Aug 10, 2005 (BUSINESS WIRE) - City National Bank (NYSE:CYN), California's premierprivate and business bank, today announced that Richard D. Byrd hasjoined the company as executive vice president and director of WealthManagement Services.
Byrd will be responsible for City National Asset Management andCity National Securities, Inc., the company's broker-dealersubsidiary, as well as the bank's personal and business trustservices, including its growing 401k business. He will lead a team of200 colleagues in Southern California, the San Francisco Bay Area andNew York City. Together, they will manage or administer $25.8 billionin client investment and trust assets.
Byrd will serve on City National Bank's Executive Committee andreport directly to Chairman and Chief Executive Officer RussellGoldsmith.
"We're very pleased that Rich Byrd, with his extensive experienceand success here in California, will lead our growing asset managementand trust business," Goldsmith said. "In conjunction with a strongteam of wealth managers, trust personnel and bond brokerage experts,Rich will enhance our capabilities, our outstanding client service,our proprietary open architecture and our role as a trusted financialadvisor."
Byrd joins City National from Wells Fargo Bank, where he wasexecutive vice president and regional managing director of the bank'sPrivate Client Services Division, leading a team of 325 employees thatwas responsible for $15 billion in private client assets throughoutSouthern California.
"I am delighted to join an institution that is so passionate abouthelping its clients," Byrd said. "City National is clearly the placeto be for superior private banking and wealth management services."
Byrd earned a master's degree in business administration fromSanta Clara University in 1993. He obtained his bachelor's degree ineconomics from University of California, Santa Barbara in 1983. Heholds NASD Series 7, 9, 10, 24 and 63 securities licenses.
Active in community affairs, Byrd is a board member of VillaEsperanza and the Greater Los Angeles Zoo.
City National is one of the nation's top wealth managers,according to Barron's magazine. The company and its independent assetmanagement affiliates manage a total of more than $17 billion ofclient trust and investment assets. Assets under management oradministration amount to $37 billion.
About City National
City National Corporation (NYSE:CYN) is a financial servicescompany with $14.5 billion in total assets. Its wholly ownedsubsidiary, City National Bank, is the second largest independent bankheadquartered in California. It provides banking, investment and trustservices through 54 offices, including 12 full-service regionalcenters, in Southern California, the San Francisco Bay Area and NewYork City.
For more information about City National, visit the company'sWebsite at cnb.com.
SOURCE: City National Bank
City National Bank Investor Contact:
Christopher J. Carey, 310.888.6777
Cary Walker, 213.833.4715