LOS ANGELES, Jan. 29, 2007 (PRIME NEWSWIRE) -- City National Bank, California's Premier Private and Business Bank(r), today announced that Mark Forbes, senior vice president and assistant division manager of its Real Estate Division, has been promoted to executive vice president and division manager.
He succeeds Stanley Kafka, who has elected to change the focus of his responsibilities in the division, which he has led for the past 15 years. Kafka remains an executive vice president of the bank, and will support the division's client retention, cross sales, new business development, community outreach and marketing initiatives.
Forbes, who now reports to Christopher Warmuth, City National Bank president, and joins the bank's Executive Committee, is responsible for providing a wide range of financial services to real estate developers in the bank's California and Nevada markets. City National already has a number of clients with business interests in Nevada, and the bank's loans there totaled approximately $70 million in December.
"Mark has worked closely with Stan since joining the bank in 1992, and has done an outstanding job as assistant division manager," said City National Bank President Christopher Warmuth. "He represents the tremendous bench strength we've developed not only in the Real Estate Division but across the company."
"We're also delighted that Stan will play a key role supporting our new business and marketing efforts," said Warmuth. "Stan has contributed significantly to the financial success of City National Bank, and successfully led our efforts to grow our commercial real estate and construction loan portfolio. He has built a highly respected team that is well-positioned to continue our long-standing reputation as a commercial real estate lender of choice."
A 40-year veteran of the banking industry, Kafka began his career with City National in 1992 as senior vice president and credit administrator, and was appointed head of Real Estate Loans the following year. He was named executive vice president in 1996 and joined the Executive Committee in 1999.
Mark Forbes
Forbes joined City National in 1992 as vice president and asset manager in its former Real Estate Special Assets Department and, the following year, was named team leader in the Real Estate Division. He was promoted to senior vice president in 1997 and appointed assistant division manager in November 2004.
Forbes began his banking career in 1980 in Union Bank's management training program. He later served as a commercial banker with First Interstate Bank of Denver and as a real estate development project manager with The Naiman Co., also in Denver. In 1985, he joined Wells Fargo Bank, where he served as a vice president in its Real Estate Division. Two years later, he was named vice president of Jovet, Inc., a privately held real estate development company based in Beverly Hills, Calif.
He is a member of the Executive Committee of the Lusk Center for Real Estate Development at the University of Southern California Marshall School of Business, and a member and former president of the City of Hope's Los Angeles Real Estate and Constructions Industries Council. Forbes also is a former vice-chair of the Habitat for Humanity, Los Angeles Chapter.
His other industry affiliations include the Building Industry Association of Southern California, International Council of Shopping Centers, National Association of Industrial and Office Properties, Risk Management Association and the Urban Land Institute.
A resident of Glendale, Calif., Forbes earned a bachelor's degree in business administration from the University of Denver in Denver, Colorado.
About City National
City National Corporation (NYSE:CYN) is a financial services company with $14.9 billion in total assets. Its wholly owned subsidiary, City National Bank, provides banking, investment and trust services through 54 offices, including 12 full-service regional centers, in Southern California, the San Francisco Bay Area and New York City.
City National is ranked among America's top companies in Forbes magazine's "Super 500" list. It also is one of the nation's top wealth managers, according to Barron's magazine. The company and its affiliates manage or administer more than $48 billion in client trust and investment assets, including more than $27 billion under direct management.
For more information about City National, visit the company's Web site at cnb.com.
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