City National Bank Creates ``City National Securities Inc.,'' Announces Online Brokerage Services.Business Editors LOS ANGELES--(BUSINESS WIRE)--June 12, 2000 Expansion of Online Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Cements City National Bank's Leadership Among Mid-Sized Banks for "High Touch, High Tech" Capabilities City National Bank (NYSE NYSE See: New York Stock Exchange :CYN CYN Canyon ) today announced it has formed City National Securities Inc., 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. company, and unveiled Online Brokerage services -- the latest additions to its City National eLink(SM) system of online financial services and products. City National Securities is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of City National Bank. City National Bank, the premier business and private bank headquartered in California, is rapidly deploying innovative technology to provide clients convenient and powerful Web-based access points for all their banking and investment needs. By creating City National Securities, the bank continues its tradition of providing entrepreneurs, businesses and affluent individuals a one-source, high-touch and experienced financial services center. "City National Securities, combined with our new online services and our decades of experience in providing first-class trust and investment services, enables us to enhance our relationships with our clients and empower them with the latest tools to manage their finances," said Vernon Kozlen, Executive Vice President and Manager of City National Investments (CNI (1) (Certified NetWare Instructor) See Novell certification. (2) (Coalition for Networked Information, Washington, DC, www.cni.org) A partnership of the Association of Research Libraries, CAUSE and EDUCOM, founded in 1990. ), the trust and investment division of City National Bank. Today, sophisticated investors who may have their financial relationships spread among multiple institutions, are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. the convenience and time savings of having their investments, checking accounts, trust accounts, mortgages, retirement plans and business investments located in a single, trusted organization, Kozlen added. At City National, clients today can buy and sell stocks, review their bank 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 computer. "Certainly, online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. and online banking are available from many institutions. The difference at City National is that we are using the latest technologies while continuing to provide our well-known, highly personalized relationship management with our clients," Kozlen said. "City National Investments is seeing its assets and client base expand because of our superior service and expertise, as well as our demonstrated commitment to expand our products and services." Recently, City National Investments added more research capabilities, enhanced its financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against service and created its own family of mutual funds called "CNI Charter Funds." CNI was also one of the first bank-run investment divisions in California to offer Individually Directed Accounts (IDAs), which offer customers the flexibility to integrate unique securities and investments assets from outside of their company plan, into their retirement plan. City National Securities, a separate entity under City National Bank, enables clients to trade stocks, index options and equity options either online or over the phone. Real-time quotations are offered online at no additional charge. Individuals can call 800/750-5471 to set up an online account. Jim Gleason, a Senior Vice President with more than 30 years of experience in brokerage and financial services, will manage the brokerage company. In addition, City National has hired several key management and supervisory personnel to be part of the brokerage team. For answers to other questions about City National Securities Inc. and the new online services, clients and prospective clients are encouraged to visit City National's Web site at "cnb.com," or contact an Investment Representative at 800/750-5471. With a focus on enhancing after-tax returns on client portfolios, City National Investments is well regarded for its long-term relationships and commitment to service and expertise. City National Investments administers nearly $15 billion in assets, including assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . Assisting successful entrepreneurs, businesses, foundations, municipal agencies and families for more than 30 years, City National Investment's staff of more than 200 professionals provides a broad range of expertise in investment and wealth management, employee benefit programs, estate and financial planning, securities sales and trading. City National eLink is designed as a strong Internet complement to City National Bank's successful relationship banking model that offers efficient, specialized, high-value products and outstanding services to its private and business banking and investment clients. Utilizing state-of-the-art technology, the City National eLink network debuted last November initially with online banking and online retirement services functions: -- Online Banking: Allows clients to view personal account and loan balances in real time, obtain account transaction history, process fund transfers, and perform online bill payment. Customers can also manage this information by exporting account details to personal financial management software. -- Retirement Accounts: Gives employees of companies that have chosen City National for their employees' retirement planning Retirement financial planning refers to a collection of systems, methods, and processes which, in their aggregate, support a family unit's (client's) desire to achieve a state of financial independence, such that the need to be gainfully employed is optional. needs access to their 401(k) accounts through the City National eLink "personal retirement" service. Once clients log on, they can review their accounts, make changes in their investment portfolios, review investment prices and performance, request forms and more. City National recently announced the addition of "inside@cnb," a highly personalized and information-rich Internet platform exclusively for select private and business banking clients of City National Bank. City National Bank will announce other components to its eLink system during the remainder of 2000. These include cash management services, international import and export letters of credit, and the ability to make foreign exchange payments electronically. About City National City National Corporation is a publicly owned Publicly owned can refer to:
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. under the symbol "CYN." The Corporation's wholly owned subsidiary is City National Bank, the premier business and private bank headquartered in California with more than 50 offices in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , Orange, Riverside, San Bernardino San Bernardino, city, United States San Bernardino (săn bûr'nədē`nō), city (1990 pop. 164,164), seat of San Bernardino co., S Calif., at the foot of the San Bernardino Mts.; inc. 1854. , San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Ventura, San Mateo San Mateo (săn mətā`ō), city (1990 pop. 85,486), San Mateo co., W Calif., on San Francisco Bay; inc. 1894. It is a commercial and retail center with some high-technology manufacturing. San Mateo, Spanish for St. and San Francisco counties, as well as a loan production office in Sacramento. For more information about the Corporation, its Fax-On-Demand Information Service is at 800/873-5293; the Web page is at http://www.cnb.com. |
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