LOS ANGELES, June 10, 2010 (GLOBE NEWSWIRE) -- City National Bank today announced that five of its senior investment executives have been promoted to serve as directors of City National Asset Management (CNAM), which manages assets for high-net-worth individuals, families, businesses, trusts and non-profit organizations.
Oliver Campbell and Otis "Tres" Heald, both senior vice presidents with CNAM, have been named as directors of equity investments. Campbell will be responsible for quantitative equity research and equity trading, while Heald will focus on fundamental equity research.
Senior vice presidents Gregory Kaplan, William Miller and Paul Single will serve as directors of fixed-income investments. Kaplan will be responsible for tax-exempt fixed-income strategies, while Miller and Single will oversee taxable fixed-income strategies. Single also will be responsible for liquidity management.
Miller will continue in his role as co-manager of CNAM's dynamic asset allocation strategy known as Multi Asset Portfolio (MAP). Heald also will act as co-manager, overseeing equity investments for the MAP strategy.
"Through the years, City National has built an exceptionally talented and deep investment team," said Richard Gershen, executive vice president of the company's Wealth Management Services Division. "For a number of years, these five new directors have been instrumental in the development and performance of our highly successful equity and fixed-income investment strategies. They are proven market veterans who have earned their promotions and enhanced responsibilities. Each one has consistently demonstrated the leadership, teamwork and technical expertise needed to continue the strong performance of our wealth management portfolios."
With more than 25 years of experience, Campbell is well known for his work in developing asset allocation, stock selection, and derivative or "hedging" strategies. Before joining City National in 2001, he oversaw $6 billion in assets as the assistant chief investment officer at the Arizona State Retirement System. Previously, he headed the Equity Management Services Group at Wilshire Associates, was a senior strategist at DSI International, and portfolio manager at General Dynamics and Mellon Equity Associates. Campbell is a Chartered Financial Analyst (CFA) charterholder and has been an adjunct professor of finance at the American Graduate School of International Management. He earned his MBA degree from the University of Chicago's Graduate School of Business.
Heald has more than 20 years of experience and is known for both his work on sophisticated portfolios and his expertise in equity and credit analysis. Prior to joining City National in 2002, he was senior vice president and market investment executive for Bank of America Capital Management. Heald also is a CFA charterholder, and he received his MBA degree from the University of Southern California.
With more than 20 years of experience, Kaplan is known for his management of tax-sensitive portfolios and the CNI Charter California Tax-Exempt Bond Fund. Prior to joining City National in 2004, he managed fixed-income assets at Robertson Stephens Asset Management. He also has managed investments at Mentor Investment Group and NationsBank. Kaplan is a CFA charterholder and received his MBA degree from the Pamplin School of Business at Virginia Tech.
Miller, with more than 15 years of experience, has built his reputation as co-manager of CNAM's successful MAP strategy. He manages CNAM's Corporate Bond Fund and Multi Asset Fund, and he co-manages the Limited Maturity Fixed-Income Fund for the CNI Charter Funds. Before joining City National in 2001, Miller managed more than $1 billion of fixed-income assets at Fiduciary Trust International of California. He also brings investment management experience from PIMCO. Miller is a CFA charterholder and received his degree in finance from California State University at Fullerton.
Single has more than 25 years of experience managing taxable fixed-income portfolios and is known for his broad experience in institutional money management. He is manager of the Government Bond Fund and co-manager of the Limited Maturity Fixed-Income Fund for the CNI Charter Funds. Before joining City National in 2003, Single was vice president and principal of the investment management group at Wells Fargo Bank/Wells Fargo Capital Management. In this role, he managed fixed-income portfolios and specialized in mortgages and structured products.
Campbell, Heald, Kaplan, Miller and Single will report directly to Richard Gershen and serve on CNAM's investment committee, which directs all of the group's investment activity.
About City National
City National Bank is the wholly owned subsidiary of City National Corporation (NYSE:CYN). It is backed by $20.1 billion in total assets, and provides banking, investment and trust services through 73 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 $55.8 billion in client investment assets, including nearly $36 billion under direct management.
For more information about City National, visit the company's Website at cnb.com.
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