WASHINGTON and LOS ANGELES, July 14, 2009 (GLOBE NEWSWIRE) - Convergent Wealth Advisors, a subsidiary of City National Corporation (NYSE:CYN), today announced that David Sotsky has joined Convergent as a Director in the firm's Institutional Group. Mr. Sotsky was most recently with UBS Financial where he was a member of a team that was ranked by Research Magazine as one of the "Top-Ranked Advisor Teams in America."

"I am excited about the opportunity to assist Convergent in servicing and growing its institutional client base," said David Sotsky. "Convergent's Institutional Group has proven its commitment to servicing the not-for-profit community, and I am privileged to join a firm with such a talented and highly regarded group of individuals."

"We are pleased to have David join our team in Washington, DC," said George Dunn, Managing Director in Convergent's Institutional Group. "This is a critical time for the institutions, non-profits, and foundations that serve our society. We are confident that David will play an important role in helping lead our efforts in this marketplace."

Mr. Sotsky is actively involved in charitable organizations and is a former recipient of the President's Volunteer Service Award. He is a member of the Board of Advisors for the National Foundation for Cancer Research. He has also served on the Board of Advisors for the Johns Hopkins University Graduate Division of Business where he sponsored a program to help foundations and non-profit organizations maintain productivity, transparency, and accountability within an increasingly regulatory environment. Mr. Sotsky has also worked to develop collaborative relationships and support the strategic growth of the Hispanic Heritage Foundation and the DC Urban Debate League which fosters education for students.


Convergent Wealth Advisors is an industry leader in wealth management, advising on approximately $10 billion in assets for individuals, institutions and family offices. With an open-architecture investment philosophy and a boutique-style approach to client service, Convergent provides specialized investment management, portfolio advisory and performance measurement services to over 370 client relationships. Convergent is headquartered outside of Washington, DC, with offices in Atlanta, Los Angeles, New York, Philadelphia, Portland (OR), Rochester (NY), and Seattle and has 104 employees located nationwide. Convergent is a subsidiary of Convergent Capital Management and its parent company City National Corporation.


City National Corporation, the parent company of City National Bank, is headquartered in Los Angeles and backed by $16.9 billion in total assets. In addition to wealth management services, the company provides banking solutions through 63 offices, including 15 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada and New York City.