MINNEAPOLIS – City National Bank, America’s Premier Private and Business Bank®, announced today that it will open its first full-service regional banking center in Minneapolis in May and has opened a temporary banking office in the headquarters of RBC Wealth Management-U.S.
Located in the heart of downtown Minneapolis, at RBC Plaza (60 South 6th St.), the new Twin Cities Regional Center will deliver City National’s relationship-focused private and business banking capabilities to individuals and their families as well as small and mid-sized businesses, nonprofit organizations, professionals and investors, especially clients of RBC Wealth Management-U.S.
It is the first co-branded banking office for City National since the bank merged with Royal Bank of Canada (RBC) in November 2015.
“Together, City National and RBC offer a unique and compelling combination of premier financial capabilities and unparalleled personal service,” said City National Bank President Chris Warmuth. “The new regional center in the heart of Minneapolis will enhance our ability to provide clients in the Twin Cities region with City National’s exceptional relationship banking and RBC’s wealth management solutions. City National has been successfully expanding around the country, and our team in Minneapolis will serve the community’s entrepreneurs, investors, professionals, their businesses and their families.”
RBC Wealth Management-U.S. has $289 billion in total client assets with approximately 1,800 financial advisors operating in 200 locations in 40 states. In Minneapolis/St. Paul, the firm serves clients through 10 offices and 177 financial advisors.
“City National is a long-time provider of elite banking products and services and we are proud to have them as our partner in the Twin Cities, where RBC’s roots date back to 1909,” said Tom Sagissor, president of RBC Wealth Management-U.S. “This office brings a better brand of banking to the Twin Cities. With City National’s outstanding private and business banking capabilities, RBC and City National Bank will be able to meet every financial need our clients might have.”
Megan Nelson, who joined City National Bank last August as a senior vice president and private banker, is already providing clients with banking services from temporary space at RBC Plaza in Minneapolis. In addition, Jacqueline Crowley, vice president and private banker, who transferred to Minneapolis from City National’s Beverly Hills Private Banking group in January is also serving clients there.
Nelson has more than 25 years of banking and wealth management experience serving high-net-worth individuals, families and family offices in the Twin Cities region. She was most recently a managing director of banking with Abbot Downing, a Wells Fargo company.
“Megan Nelson is an outstanding, well-known local banker who knows Minneapolis and will lead our growing banking team here very well,” Sagissor said.
Crowley works with entrepreneurs, executives, real estate investors and family offices, providing her clients with advice and services related to private banking, credit, treasury management and foreign exchange. Prior to joining City National, she worked at UBS Private Bank providing multi-currency credit and investment solutions to ultra-high-net-worth individuals and family offices.
In addition, Martha Basham has joined the new office as the vice president and branch manager of the Twin Cities Regional Center with City National. She was most recently the branch manager at Wells Fargo in Minneapolis and now leads the personal and business banking at the Twin Cities Regional Center and supports the success of clients and colleagues at that location.
City National’s new regional center will offer a wide array of account options and personal banking services, including mobile banking, online banking with bill pay, credit cards and residential mortgage loans. The regional center also will provide businesses with credit lines and term loans, equipment finance, international banking and foreign exchange and a full suite of treasury management solutions.
Minneapolis is home to 17 Fortune 500 companies – more per capita than any city in the world – and over one-third of Twin Cities households are considered affluent. What’s more, the Harvard Business Review ranks Minnesota No. 2 in the nation for innovators.
About City National
With $45.1 billion in assets, City National Bank provides banking, investment and trust services through 72 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville, Atlanta and now Minneapolis. In addition, the company and its investment affiliates manage or administer $55.5 billion in client investment assets.
City National and RBC Wealth Management-U.S. are part of Royal Bank of Canada (RBC), one of North America’s leading diversified financial services companies. RBC serves more than 16 million personal, business, public sector and institutional clients through offices in Canada, the United States and 35 other countries. RBC in the USA includes City National, RBC Wealth Management-U.S. and RBC Capital Markets in New York.
For more information about City National, visit the company’s website at cnb.com.
About RBC Wealth Management-U.S.
In the United States, RBC Wealth Management operates as a division of RBC Capital Markets, LLC. Founded in 1909, RBC Capital Markets, LLC. is a member of the New York Stock Exchange, the Financial Industry Regulatory Authority, the Securities Investor Protection Corporation, and other major securities exchanges.