BEVERLY HILLS, Calif.--(BUSINESS WIRE)--April 5, 2000--City National Investments (CNI), the trust and investment division of City National Bank and a leading institution in the field of investing for affluent individuals, today announced the appointment of five new key members to its team of investment and trust professionals.
The new CNI colleagues include Richard Barnett, CFA, vice president and director of equities; Brian Garbe, vice president and director of research; and Douglas Achtemeier, CFA, Peter Andresen and Katharine Cook, CFA, CFP, all vice presidents and senior portfolio managers.
"We're pleased to have these five highly regarded and skilled professionals join the City National Investments team. They all have strong track records of success and are great assets to both our clients and internal operations," said Vern Kozlen, executive vice president of CNI.
According to Richard Weiss, senior vice president and chief investment officer for CNI, the director of research, the director of equities and the recently appointed director of fixed income positions were created because of the importance of developing and directing CNI's proprietary, in-depth research and overall investment strategies.
As director of equities, Barnett oversees asset allocation, equity investment policy, portfolio construction and stock selection.
Prior to joining CNI, Barnett was vice president and senior portfolio manager for California Bank and Trust's Wealth Management Group, and he has held senior positions with SSI Investment Management, Capital Management Sciences, BARRA and Leland O'Brien Rubinstein Associates.
Garbe comes to CNI with expertise in both research and fund management. In his new position as director of research, Garbe manages the creation, analysis and production of asset allocation, sector rotation and stock selection strategies.
Garbe's professional history includes supervision of $800 million in institutional and mutual fund assets, and the development of a quantitative stock selection process to manage both large and small funds.
Prior to joining CNI, Garbe was vice president and director of research for Sanwa Bank California, where he played a large role in the stock selection process and management of the institution's proprietary family of mutual funds.
Previously with California Bank and Trust and The Principal Financial Group, Achtemeier is an accomplished portfolio manager and analyst. His background includes the successful structuring and management of equity and fixed income portfolios totaling $900 million for wholly owned pension and life insurance subsidiaries in Latin America, as well as being proficient in security and credit analysis.
Andresen brings with him more than 25 years of experience in all areas of portfolio management and trading for taxable fixed income, municipal bond and equity portfolios. His professional history includes senior positions with Scudder Kemper Investments Inc., Northern Trust of California and Norcal Mutual Insurance Co.
Cook, a 20-year veteran in financial planning, specializes in high-net-worth personal and institutional accounts. Before joining the CNI team, Cook held related positions with Bankers Trust Co., Wedbush Morgan Securities, IDS Financial Services, Sanwa Trust and Investments and Los Angeles Times/Times Mirror Corp.
For more than 30 years, CNI has offered comprehensive investment management, including trust services and in-house securities trading. Staffed by more than 200 investment and trust professionals, CNI administers and manages more than $14 billion in client assets.
City National Corp. is a publicly owned corporation with nearly $8 billion in total assets. Its stock is traded on the New York Stock Exchange under the symbol CYN.
The company's wholly owned subsidiary, City National Bank, is California's premier business and private bank. City National Bank has more than 50 offices throughout Los Angeles, Orange, Riverside, San Bernardino, San Diego, Ventura, San Francisco and San Mateo counties. City National Bank recently completed its merger with The Pacific Bank - which formerly had headquarters in San Francisco.
CONTACT: City National, Beverly Hills
Jim Dunnigan, 310/888-6636 or Stoorza, Ziegaus & Metzger, Los Angeles Denis Wolcott, 213/891-2822