PALO ALTO, Calif.--(BUSINESS WIRE)--Sept. 25, 2000--
Palo Alto Office Provides Premier Private Banking and Technology Lending Services, Bolsters Wealth Management Roster in Northern California
City National Bank, California's premier private and businessbank, today continued its expansion into Northern California with theopening of a full-service office in Palo Alto to serve the uniqueneeds of Silicon Valley's successful companies and entrepreneurs.
By opening this Palo Alto office, City National Bank (NYSE:CYN),will be able to deliver its well-known brand of highly personalized,relationship-oriented private and business banking and its full rangeof financial planning, investment management and individual lendingproducts, to a region that continues to see a rise in the number ofemerging growth businesses and expanding private and business bankingneeds.
"As a California success story itself, City National is focused onproviding financial solutions that meet the needs of successfulCalifornia entrepreneurs and their businesses," said RussellGoldsmith, CEO and Chairman of City National Bank.
"Opening this Palo Alto office and staffing it with an outstandingteam of private bankers and technology-focused business bankersreflects our strong commitment to bring the premier private andbusiness banking capabilities and responsive service of City Nationalto the Silicon Valley."
The opening of a Palo Alto office affirms City National'scommitment to continue its strategic expansion into NorthernCalifornia. Earlier this year, City National acquired SanFrancisco-based The Pacific Bank, N.A., and later announced theformation of a highly experienced private banking team located in SanFrancisco.
"We are building upon both our presence in San Francisco andBurlingame and our specialized capabilities for emerging growthcompanies and their entrepreneurs," Goldsmith added.
Bob Brant, City National's executive vice president for NorthernCalifornia, said the bank's commitment to provide superiorrelationship banking focused on entrepreneurs, professionals,investors and small- to mid-size businesses has been warmly receivedin Northern California.
"Companies and individuals are benefiting from our expertise inthe key industries that drive economic growth in Northern California,"Brant said. "Now, we're providing a unique one-two delivery ofindustry-leading private banking and technology lending expertise."
The Palo Alto Banking Office provides a full range of businesslending services and products and will pay particular attention toserving the needs of emerging growth companies and their managementteams. In recent years, City National Bank has established itself as aprimary provider of financial services and products to some ofCalifornia's best-known technology companies and successfulentrepreneurs associated with those firms.
City National's Technology Group is working with all types oftechnology firms in such industry sectors as Internet, communications,life sciences, software and new media. City National typically seekscompanies that have completed their first round of financing with atleast $4 million to $5 million in venture capital or investment.
"City National understands the diversified needs of Silicon Valleytechnology companies," said Beth Kinsey, senior vice president andmanager of City National's Technology Group. "We are filling animportant need in the Silicon Valley area by offering a one-stopsolution for both technology lending and private banking services."
Kinsey is well known in the local banking and venture capital (VC)market. She joined City National more than three years ago afterspending seven years with other banks in the Silicon Valley area.Kinsey will oversee the technology lending team of the Palo Altooffice and expects to add additional banking professionals over thenext several months.
Since its inception in 1954, City National Bank has consistentlyprovided premier private banking services to many of California's andthe country's most successful and well-known business leaders andindividuals. City National recently hired a local wealth managementveteran to launch the bank's private banking effort in Silicon Valley.
Kenna Helms - a 26-year veteran in trusts, estate planning andfinancial services - is senior vice president and manager of the PaloAlto private banking team.
Palo Alto will be City National's eighth private banking office inCalifornia and bring to nearly 140 the number of private bankersserving high-net-worth individuals. Other private banking offices arelocated in San Francisco, Beverly Hills, downtown Los Angeles, LongBeach/South Bay, Irvine, San Diego, and Riverside.
City National also provides its clients with a state-of-the-artsuite of online, 24/7 capabilities including online banking and billpayments, online cash management, online stock brokerage, 401(k)online access, and other investment information through cnb.com and"City National eLink.sm."
City National Bank's Palo Alto office is located at 525 UniversityAvenue and can be reached by calling 650/566-3060.
About City National
City National Corporation is a publicly owned corporation with$8.7 billion in total assets whose stock is traded on the New YorkStock Exchange under the symbol "CYN."
The corporation's wholly owned subsidiary, City National Bank, isCalifornia's premier private and business bank, with 50 offices in LosAngeles, Orange, Riverside, San Bernardino, Santa Clara, Ventura, SanDiego, San Francisco, San Mateo and Santa Clara counties.
In addition, the bank's trust and investment division, CityNational Investments, has $15.5 billion in assets under management oradministration. For more information about the Corporation visit thecompany's Web page at cnb.com.
|CONTACT:||City National Bank|
|Kim George, 310/888-6665|
|Denis Wolcott, 213/891-2822, ext. 220|