LOS ANGELES, Nov. 14, 2008 (GLOBE NEWSWIRE) -- City National Corporation (NYSE:CYN) today announced that as a part of Bram and Elaine Goldsmith's family estate planning, their family trust has sold 1,250,000 shares of City National Corporation stock to trusts for the benefit of their grandchildren.
City National Corporation President and Chief Executive Officer Russell Goldsmith shall have full voting power and control over all City National shares held in these trusts. The share sales will be reported as required with applicable regulatory authorities.
About City National
City National Corporation's wholly owned subsidiary, City National Bank, is backed by $16.3 billion in total assets, and provides banking, investment and trust services through 62 offices, including 15 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 $52.4 billion in client investment assets, including more than $33 billion under direct management.
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