City National Bank Chairman and CEO Russell Goldsmith appeared on BNN Bloomberg on October 25 to discuss with anchor Jon Erlichman the firm’s transition to new CEO Kelly Coffey early next year.

Goldsmith said he will continue to serve as chairman and will still be very involved with the bank, which he has led for the past 23 years.  Coffey is an excellent choice with extensive experience, said Goldsmith, noting she was most recently the chief executive officer of JPMorgan’s U.S. Private Bank, one of the largest private wealth management businesses in the nation. Coffey had led the business since 2015, and she was responsible for a team of 3,000 people in 34 communities across the United States. Goldsmith said she will now lead City National’s growth plans.

Goldsmith also spoke about the U.S. economy, which despite some headwinds, is still strong.