City National Bank Names Two New Executive Vice Presidents.Business Editors LOS ANGELES--(BUSINESS WIRE)--March 8, 2004 City National Bank (NYSE NYSE See: New York Stock Exchange :CYN CYN Canyon ), the second largest independent bank headquartered in California, announced today that it has promoted Richard A. Weiss and Richard Shier shi·er adj. A comparative of shy1. to executive vice president. Both previously were senior vice presidents with the bank. As chief investment officer for City National Asset Management (CNAM (Calling NAMe) An IN (Intelligent Network) service that displays the caller's name on the calling party's digital readout. This is similar to caller ID except that the calling party's name is displayed along with the calling number or instead of the calling number. See caller ID. ), the investment management arm of City National Bank, Weiss oversees the management of nearly $6 billion in client assets. He also directs the bank's investment strategy and policy. Weiss has more than 20 years of investment management experience, including nearly five years with City National. During his tenure, CNAM's 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. have grown by 32 percent and its managed portfolios consistently have outperformed virtually all of their relevant benchmarks. Shier, who joined the bank in 1998, directs City National's Operations Services Group. In this capacity, he oversees nearly 400 colleagues who are responsible for many of the company's fundamental client service activities, including securities and mutual fund operations, check processing, statement production, coin and currency, and ATM operations. A seasoned executive who has worked for several major financial institutions, consulting firms and technology service companies during his 24-year career, Shier has led the centralization, automation or elimination of more than 75 bank processes in the last three years. He also played a major role in the integration of several of City National's recent bank and asset management firm acquisitions. "Both of these talented individuals have earned tremendous respect for their leadership and performance," said City National Chairman and Chief Executive Officer Russell Goldsmith. "They have repeatedly distinguished themselves through the successful exercise of significant management responsibilities for large and critical business functions that affect the entire bank. "We're pleased to recognize not only their accomplishments, but also their unique expertise, strong contributions to our company's growth and broad understanding of the business and economic conditions within which our company operates." About City National City National Corporation (NYSE:CYN) is a 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. company with $13 billion in total assets. Its 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. , City National Bank, is the second largest independent bank headquartered in California. As California's Premier Private and Business Bank(R), City National provides banking, investment and trust services through 53 offices, including 12 full-service regional centers in Southern California, the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay and New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . City National is ranked among America's top companies in Forbes magazine's "Super 500" list. It also is one of the nation's top wealth managers, according to Barron's magazine. The company and its affiliates manage or administer more than $28 billion of client trust and investment assets. For more information about City National, visit the company's Website at cnb.com. |
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