City National Bank expanded its capabilities in New York by assembling a team of experienced managers and bankers to serve middle-market companies in the New York metropolitan area. The team is focused on delivering a full complement of credit products, treasury management and investment services to commercial businesses in New York.
City National entered New York in 2002, primarily to serve entertainment and private banking clients, and has grown to serve entrepreneurs and their families, businesses, nonprofits and professional service firms throughout the region. The bank has three branches in Manhattan, including a new office opened downtown in 2016. The new commercial banking team will work from City National Bank’s office at 400 Park Avenue, which also houses City National Rochdale, its investment management firm.
“The expansion of commercial banking in New York represents the perfect complement to our existing business lines and will enable us to better serve the financial needs of mid-sized businesses and entrepreneurs in the New York metropolitan area,” said Rod Banks, executive vice president of City National’s Commercial Banking division. “We also anticipate significant connectivity with our parent, Royal Bank of Canada, one of North America’s leading diversified financial services companies, and RBC Capital Markets and RBC Wealth Management, with more than 3,000 professionals in New York and New Jersey.”
City National recruited Zach Mayo, former national head of Citibank’s middle-market business, to lead this effort as eastern regional manager of the Commercial Banking division.
“I am extremely pleased to have attracted such a high-quality group of seasoned professionals from some of the most well-established financial institutions,” said Mayo. “Together, we were drawn to City National’s culture, which focuses on client relationships with an innovative and entrepreneurial spirit. We expect to make a meaningful contribution to the continuation of City National’s growth in New York.”
City National’s new additions are:
City National recently opened its third full-service banking office in Manhattan at Brookfield Place. The office is located in the heart of Lower Manhattan at the same location as RBC Capital Markets headquarters. Like City National, RBC Wealth Management and RBC Capital Markets are part of Royal Bank of Canada (RBC).
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