CITY NATIONAL GETS INTO ONLINE TRADING.Byline: Chris Sieroty Staff Writer City National Corp., parent of the largest bank headquartered in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , said Monday it has formed a discount brokerage A discount brokerage is a business that charges clients significantly lower fees than traditional brokerages, typically offering comparatively fewer services and/or advice. unit to handle its customers' stock trading online and over the phone. Through its new unit, City National Securities Inc., customers will be able to trade stocks, index options and equity options. Real-time quotes will also be offered. ``Our goal is to provide our existing clients with the ability to trade securities online,'' said Vernon Kozlen, executive vice president and manager of City National Investments. ``The strategy is to continue to enhance and strengthen the current relationships with our clients,'' Kozlen said. City National Securities account information will be available at all City National Bank branches statewide. Once a customer account is opened at a branch, that customer will deal with a stockbroker Stockbroker 1. An agent that charges a fee or commission for executing buy and sell orders submitted by an investor. 2. The firm that acts as an agent for a customer, charging the customer a commission for its services. at the company's Beverly Hills Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. office. Adam Compton, an analyst with Morgan Stanley/Dean Witter witter Verb Chiefly Brit informal to chatter or babble pointlessly or at unnecessary length [origin unknown] witter verb chatter, chat, rabbit (on) in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , said the decision to offer discount brokerage services should benefit consumers. ``Over the long-term it's a pretty good indications that the company is trying to bring a better product set to its clients,'' said Compton. Kozlen said clients can buy and sell stocks, review their account balances or investment portfolios, seek modifications to their 401(k) plan, pay their bills and review their retirement plans from their home or office computers. Jim Gleason, a senior vice president at City National, will manage the brokerage company. In addition, the Beverly Hills-based company has hired a number of management and supervisory personal to be part of the brokerage firm. City National Bank has assets of $8.4 billion and 41 offices in Southern California including Encino, Studio City, Sherman Oaks, Sun Valley, Woodland Hills, North Hollywood, Van Nuys, Granada Hills, Northridge and Valencia. Shares of City National Corp. gained 38 cents on Monday to close at $39.19 on volume of 162,900 shares on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . |
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