City National announced the appointment of Howard Hammond as CEO. Kelly Coffey has been named CEO, City National Entertainment. Both appointments are effective Nov. 27. City National is a subsidiary of Royal Bank of Canada (RBC)
Hammond brings to City National more than 30 years of financial services experience, including 15 years in leadership positions at Fifth Third Bancorp, a large commercial bank and the ninth largest U.S.-based consumer bank. Most recently, he served as Fifth Third’s Executive Vice President and head of Consumer Banking, leading the division’s performance, objectives, products, operations and strategies, as well as more than 8,000 employees and more than 1,000 financial centers. Previous roles at Fifth Third included head of Retail Banking and Brokerage, and President and CEO of Fifth Third Securities, where he was instrumental in transforming the business and grew the assets under management by $8.5 billion.
In his role at City National, Hammond will lead the bank’s 6,600 colleagues with a focus on operational excellence. He will also join City National’s board of directors and the Executive Committee of RBC’s U.S. intermediate holding company. Hammond will relocate to Los Angeles and report to Greg Carmichael, Executive Chair, City National.
“City National has an incredible reputation for putting its clients, colleagues and communities first,” said Hammond. “I look forward to working closely with Greg, Kelly and the rest of the leadership team to build on the strength of City National and lead the business into the future.”
Carmichael said, “Howard brings exceptionally strong experience to City National. His work at Fifth Third reflects operational excellence, strong risk management, and the ability to transform an organization for the future. He is the ideal leader to take City National to its next stage and prepare the bank for future success.”
Coffey will assume the newly created role of CEO, City National Entertainment, enabling her to further add to City National’s strength in delivering strategic advice and a premier client experience. She will leverage her experience and relationships to bring City National and RBC’s expertise to the bank’s entertainment clients. JaHan Wang, Executive Vice President of Entertainment Banking at City National, will report to Coffey. Martha Henderson remains in her role as Vice Chairman of Entertainment Banking.
“For me, banking has always been about clients — the people, businesses and nonprofit organizations we support,” said Coffey. “The entertainment industry is incredibly dynamic, and City National’s role in supporting this community is more important than ever as we remain at the forefront of industry developments and hone our services to meet the evolving needs of our clients. I’m excited about the opportunity to work more closely with clients and help City National serve them even better.”
Carmichael said, “Kelly has had a tremendous impact on City National over the last five years. Her client focus has ensured that client-centricity has remained a hallmark of the bank’s culture and that it remains a differentiator for the bank. Her new role will build on City National’s 70-year legacy of supporting the entertainment community and allow her to focus her significant talents on helping our entertainment clients thrive.”
With $96 billion in assets, City National Bank provides banking, investment and trust services through 69 branches, including 21 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville, Atlanta, Washington, D.C., and Miami. In addition, the company and its investment affiliates manage or administer $98 billion in client investment assets.