Los Angeles Business Journal

City National Expands in New York

By Deborah Crowe Monday, June 10, 2013

City National Bank on Monday said that it opened its first ground-floor banking office in Manhattan as part of a continuing expansion in the New York area.

City National, the largest bank based in Los Angeles, said the New York Entertainment Division will move to the full second floor above the new branch at the corner of Sixth Avenue and 44th Street to be closer to the Broadway theater district. The bank now provides services for more than half of current Broadway shows, including "Book of Mormon," "Kinky Boots" and "Lucky Guy."

City National also provides banking and wealth management for law firms, professional service firms and other businesses throughout the region. To bolster its East Coast presence, City National last year acquired Rochdale Investment Management in Manhattan and nationwide equipment leasing firm First American Equipment Finance in Rochester.

The bank plans to open a second ground-floor office at its New York headquarters building on Park Avenue this fall.

Shares of the bank’s holding company, City National Corp., closed up 91 cents, or 1 percent, to $62.53 on the New York Stock Exchange.