Who Owns City National Bank?

City National Bank was founded in January 1954 in Los Angeles by Alfred S. Hart, a businessman who assembled local investors to charter a bank serving the city's growing professional class. Hart chaired the bank from its founding until 1975, building a deliberately relationship-focused institution that courted lawyers, accountants, and the entertainment businesses reshaping postwar Los Angeles.

Russell Goldsmith joined in 1975 and became chairman and CEO in 1978, beginning a 40-year tenure that defined the modern bank. Under Goldsmith, City National built its "bank to the stars" identity, becoming the banker of choice for Hollywood studios, producers, agents, and entertainment executives. It expanded into San Diego, Orange County, the Bay Area, and New York, while developing a wealth management arm that grew into one of the larger private banks on the West Coast.

The bank went public in 1970 and remained independent for 45 years. Kelly Coffey, a longtime JPMorgan executive, succeeded Goldsmith as CEO in 2019, only the fourth chief executive in the bank's history. In November 2023, Howard Hammond became the fifth CEO, with Coffey shifting to lead City National Entertainment, the bank's specialized entertainment division.

RBC's 2015 acquisition integrated City National into a global banking group while preserving its distinct identity. Under RBC ownership the bank more than doubled its balance sheet, reaching $98 billion in assets by October 2025, and extended into new markets including Nashville, Atlanta, Delaware, Las Vegas, Washington D.C., and Miami, where it operates as CN Bank.