LOS ANGELES--(BUSINESS WIRE)--Aug. 22, 2005--City National Bank,California's premier private and business bank, today announced thatDavid W. Maurer has been named senior vice president and manager ofits new Equipment Leasing Department.
Maurer will oversee the formation of the team, which will offercomprehensive equipment leasing services to clients. Maurer willreport to City National President Chris Warmuth.
"Dave will be leading a seasoned team of experts who will delivertax-efficient, customized equipment leasing products to businessowners and individuals, and enhance City National delivery of completefinancial solutions to our clients," said Warmuth. "He brings 30 yearsof combined leasing and banking experience, including large corporate,middle-market and small business banking."
The bank's Equipment Leasing Department will be a general-purposelessor, focusing primarily on commercial equipment commonly used inthe small and midsize middle market, including everything fromcomputers to manufacturing machinery. The department is scheduled tobecome operational in the fourth quarter.
"About 80 percent of all U.S. businesses lease one or more piecesof equipment, and we want to capitalize on this fact to the benefit ofCity National and its clients," Maurer said. "The leasing market isestimated to be over $50 billion annually in California alone, andCity National's commitment to entrepreneurs and small and midsizedbusinesses makes this a perfect fit."
Maurer joined City National from Bank of the West, where he wasvice president and manager of direct leasing for more than threeyears. He helped create a leasing subsidiary for Sanwa BankCalifornia/United California Bank, and following the merger with Bankof the West, managed all direct lease marketing and middle-marketlease syndication.
Before that, Maurer was a vice president at Wells Fargo Bank, inboth its equipment leasing and corporate finance groups in SouthernCalifornia. Previously, Maurer was a managing director and principalfor four years at Regency Capital Group, an investment banking firmspecializing in equipment leasing.
Maurer earned a master's degree in corporate finance and marketingfrom the University of Michigan, and a bachelor's degree inmathematics from Miami University in Ohio.
Maurer, who lives in Irvine with his wife, Jeanine, is a member ofthe Equipment Leasing Association.
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.
City National is ranked among America's top companies in Forbesmagazine's "Super 500" list. It also is one of the nation's top wealthmanagers, according to Barron's magazine. The company and itsaffiliates manage more than $17 billion of client trust and investmentassets. Assets under management or administration amount to $37billion.
For more information about City National, visit the company'sWebsite at cnb.com.
City National Bank
Daniel Minkoff, 213.833.4731
SOURCE: City National Bank