LOS ANGELES, Feb. 1, 2011 (GLOBE NEWSWIRE) -- City National Bank, California's Premier Private and Business Bank®, today announced that Bruce Simon has joined the company as chief investment officer.
(For an image of Simon, go to .)
Simon will direct investment strategy and lead City National's skilled team of portfolio managers. He will also oversee the bank's open investment platform, which features customized, proprietary and non-proprietary strategies. He will chair City National's investment committee as well as communicate the firm's views on the economy, investment outlook and asset allocation.
With more than 25 years of experience in the investment industry, Simon was most recently the chief investment officer and a managing director at Ballentine Partners, a $5 billion independent wealth management firm near Boston. During his tenure there, he chaired the investment management and investment policy committees and was responsible for all of the firm's investment activities.
Before that, Simon was chief investment officer and a managing director at Morgan Stanley's private wealth management division in New York. In that role, he was responsible for advising Morgan Stanley's largest and most sophisticated private clients. He was previously the chief investment officer at Glenmede Trust Co., in Philadelphia, where he was responsible for $15 billion in assets under management. His direct responsibilities included the management of the Pew Charitable Trusts, one of the largest private foundations in the United States. Simon began his investment career at Wells Fargo in San Francisco, where he was a portfolio manager.
Simon will report directly to Richard Gershen, executive vice president in charge of City National Wealth Management.
"Bruce's experience spans the full range of asset classes, and he has successfully guided his clients and colleagues through a variety of market conditions," said Gershen. "His experience and seasoned judgment will complement the already extraordinarily talented team in Wealth Management at City National Bank."
"I'm excited to lead the investment strategy here at City National Wealth Management," said Simon. "City National is known for extraordinary client service, and we intend to build on its success and grow its already-strong brand."
Simon received an MBA in Applied Economics from George Washington University and a bachelor's degree from Penn State University. He holds a Chartered Financial Analyst (CFA) designation.
About City National
City National Bank is the wholly owned subsidiary of City National Corporation (NYSE:CYN). It is backed by $21.4 billion in total assets, and provides banking, investment and trust services through 75 offices, including 17 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada and New York City. The company and its investment affiliates manage or administer $58.5 billion in client investment assets, including nearly $37 billion under direct management.
For more information about City National, visit the company's Website at cnb.com.
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CONTACT: Media Contact: Debora Vrana, City National Bank, 213.673.7631 Debora.Vrana@cnb.com