WASHINGTON and LOS ANGELES, Sept. 10, 2009 (GLOBE NEWSWIRE) -- Convergent Wealth Advisors, a subsidiary of Convergent Capital Management and its parent company City National Corporation (NYSE:CYN), today announced that David Kahn has joined Convergent as a director in the firm's Los Angeles office. Mr. Kahn, an industry veteran with over twenty years of experience in investment management and advisory services, will be working with ultra-high net worth individuals and family offices on the West Coast. He joins Convergent from Wilmington Trust Company where he was a managing director and a private client advisor working with high net worth clients providing advice on estate planning, investment strategy, asset allocation and portfolio construction.
"We are very pleased to have someone with David's strong wealth management background join our team," said Steve Lockshin, CEO of Convergent Wealth Advisors. "We have very sophisticated ultra-affluent clients handled out of our Los Angeles office and David will further strengthen our team that services their unique needs."
"I am excited to be joining such a dynamic company," said David Kahn. "Convergent's expertise in open-architecture wealth management combined with City National's brand recognition on the West Coast is very powerful and will lead to many opportunities to expand our presence in this market."
Mr. Kahn was with Wilmington Trust in Los Angeles since 2005 where he managed over $100 million for high net worth individuals and families. Prior to joining Wilmington Trust, he was a managing director with Roxbury Capital Management where he managed the Private Client Services Group, responsible for handling $2 billion in assets.
Mr. Kahn received an MBA from the Leonard N. Stern School of Business at New York University and a BA in Economics from Bucknell University. Active in the Los Angeles community, Mr. Kahn serves on the board of Inside Out Community Arts, a non-profit based in Venice that provides at-risk teens with free after school performing arts programs. He also is a board member of the Pacific Palisades Baseball Association and a member of the Planned Giving Committee at Loyola High School in Los Angeles.
ABOUT CONVERGENT WEALTH ADVISORS
Convergent Wealth Advisors is an industry leader in wealth management, advising on approximately $10 billion in assets for individuals, institutions and family offices. With an open-architecture investment philosophy and a boutique-style approach to client service, Convergent provides specialized investment management, portfolio advisory and performance measurement services to over 370 client relationships. Convergent is headquartered outside of Washington, DC, with offices in Atlanta, Los Angeles, New York, Philadelphia, Portland (OR), Rochester (NY), and Seattle and has 106 employees located nationwide. Convergent is a subsidiary of Convergent Capital Management and its parent company City National Corporation.
ABOUT CITY NATIONAL
City National Corporation, the parent company of City National Bank, is headquartered in Los Angeles and backed by $17.7 billion in total assets. In addition to wealth management services, the company provides banking solutions through 63 offices, including 15 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada and New York City.