City National Expands Commercial Banking Business
City National Bank announced that it has 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:
- Wendy Segal, senior vice president and team leader, joins City National Bank from J.P. Morgan Chase, where she spent 24 years. She served as a market executive with its commercial bank covering public and private companies. As a team leader, she is responsible for delivering City National’s customized financial solutions to middle-market businesses.
- Jay Yarnell, senior vice president and team leader, joins City National from HSBC Bank USA, where he was a regional managing director for Metro New York East for the commercial bank. He has worked in several key commercial and corporate banking roles over his 30-year career.
- Rita Pascarella-Ronk, senior vice president and relationship manager, has more than 16 years of experience in commercial banking. Prior to joining City National Bank, she served as a commercial banking market manager with HSBC covering the New York metropolitan area.
- Edwin Vanderhoof, senior vice president and relationship manager, has more than 15 years of experience in commercial banking. Prior to joining City National Bank, he served as a commercial banking market manager with HSBC covering the Metro New York area.
- Tony Wilkens, senior vice president and relationship manager, joins City National Bank from J.P. Morgan Chase, where he served commercial banking clients in the New York area for 24 years. He has experience with several industry specialties, including sports, maritime, architecture and engineering.
- Marc Einerman, vice president and relationship manager, formerly with Capital One and IDB Bank, has extensive commercial banking business development expertise, particularly serving clients in the Long Island and Queens markets. He has over a decade of experience working with middle-market companies.
- Oscar J. Orozco, assistant vice president and relationship manager, will provide City National’s full complement of financial services to middle-market businesses in the New York metropolitan area. Prior to joining the New York commercial banking team, he was a banker in City National’s Los Angeles office for four years.
- Brett Altman, assistant vice president and relationship manager, provides financial solutions that promote growth and efficiencies for middle-market businesses in the New York metropolitan area. Prior to joining City National, he served as a commercial banker and credit analyst in J.P. Morgan Chase’s Commercial Bank in New York.
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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