SAN FRANCISCO, Dec. 17, 2009 (GLOBE NEWSWIRE) -- City National Bank announced today it had hired private banking and wealth management veteran Kent A. Grubaugh as a senior vice president in its Private Client Services Group in San Francisco. Grubaugh joins David Lawrence who will continue in his role as manager with PCS in the Bay Area. Lawrence's focus will be the East Bay and Contra Costa County while Grubaugh will focus on San Francisco, the Peninsula and South Bay. Grubaugh will serve as Private Client Services Manager of Northern California.
(For an image of Grubaugh go to: http://www.cnb.com/images/photos/kent-grubaugh.jpg)
In his new capacity, Grubaugh will oversee client service and new business. PCS specializes in custom banking, credit and wealth management for high net worth families, professional services firms and select non-profit organizations.
Grubaugh reports to Michael Pagano, executive vice president and head of City National's Private Client Services Division.
"We are pleased to have a seasoned professional like Kent join our growing team in San Francisco," said Pagano. "He reflects our commitment to growing this important market and to providing our clients in the Bay Area with the exceptional personal service they have come to expect from City National."
Grubaugh most recently served with Wachovia Bank in San Francisco, where he was a senior vice president and regional director in charge of building its Northern California private banking operation. He had previously worked with Bank of America in San Francisco as a global wealth & investment management market leader.
Grubaugh is a graduate of San Diego State University.
"I was very impressed with the reputation of City National Bank," said Grubaugh. "This firm is known for its culture of service and its ability to meet all the wealth management needs of their clients."
About City National
City National Bank is the wholly owned subsidiary of City National Corporation (NYSE:CYN). It is backed by $18.4 billion in total assets, and provides banking, investment and trust services through 64 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada and New York City. The company and its eight majority-owned investment affiliates manage or administer $53.4 billion in client investment assets, including nearly $35 billion under direct management.
For more information about City National, visit the company's Website at cnb.com.
The City National Bank logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3143