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LOS ANGELES--(BUSINESS WIRE)--Dec. 4, 2002--City National Bank,California's Premier Private and Business Bank(R), announced todaythat Shelley B. Thompson has joined the company as executive vicepresident and director of Wealth Management.
In this newly created position, Thompson will direct CityNational's wealth management strategy and delivery system, includingthe investment management, personal trust, business trust, and estateand financial planning groups, as well as its broker-dealersubsidiary, City National Securities, Inc. She also will oversee thedelivery of asset management solutions to the bank's investmentclients through City National Private Client Services.
Thompson will report directly to City National Bank Chairman andChief Executive Officer Russell Goldsmith and serve on the bank'sExecutive Committee.
In a related move, City National Executive Vice President VernonC. Kozlen will fill the newly created position of director of AssetManagement Development. Kozlen, who formerly was director of CityNational's investment management, trust and securities brokeragedivision, will be responsible for managing the company's relationshipswith affiliated, external investment management firms and othernon-interest-oriented products, as well as the acquisition ofadditional asset management businesses.
"This is a natural and important evolution of our long-termcommitment to further develop City National's wealth managementcapabilities to meet the investment needs of our private clients,"said Goldsmith. "Shelley Thompson is particularly well qualified totake the delivery of our growing array of wealth management productsand services to the next level. She has a distinguished career in thisarena and has successfully demonstrated her ability to buildeffective, successful teams that produce positive results and enhanceclient relationships."
Goldsmith continued, "At the same time, we have established andintend to develop our external asset management firm relationships,and our growing investments here require focused, effectiveleadership. Vern Kozlen has successfully led the significant growthand expansion of our trust and investment management businesses formore than six years, including an asset management acquisition, andnow will be able to provide needed full-time leadership in this newcapacity."
Thompson joins City National from U.S. Trust where she served aschief executive officer and managing director of that company'sMinnesota regional office. Prior to joining U.S. Trust, she was anexecutive vice president and group head of Private Financial Servicesat U.S. Bancorp.
Thompson previously was with Wells Fargo Bank in Los Angeles,serving as executive vice president and group head of its PrivateBanking Group. A trust and estate attorney, she began her career withtwo law firms in Los Angeles and later served as in-house trustcounsel and trust administrative manager of Citicorp's trust andpersonal investment subsidiary.
A member of the State Bar of California and American BarAssociation, Thompson holds a law degree from University ofCalifornia, Hastings College of the Law, and a bachelor's degree fromUniversity of California, Santa Barbara.
Kozlen joined City National in 1996. Since then, the company hasnearly tripled its assets under management or administration to morethan $19 billion, established an estate and financial planning group,launched a family of proprietary mutual funds, developed an internalteam of investment advisors and acquired North American Trust Companyand Reed, Conner & Birdwell, a value-oriented investment firm.
In his new role, Kozlen will continue to serve on the bank'sExecutive Committee and report to Goldsmith.
About City National
City National Corporation (NYSE: CYN) is a financial servicescompany with $11.3 billion in total assets. Its wholly ownedsubsidiary, City National Bank, is the second largest independent bankheadquartered in California and provides banking, investment and trustservices through 54 offices, including 11 full-service regionalcenters, in Southern California and the San Francisco Bay Area. Thecompany has more than $19 billion in investment and trust assets undermanagement or administration.
For more information about City National, visit the company's Website at www.cnb.com.
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|Frank Pekny, 310/888-6700 (Investors)|
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