US-based City National Bank has launched a new registered investment advisory firm, City National Rochdale, which manages US$20 billion, and combines City National Asset Management and Rochdale Investment Management.
City National Rochdale is being officially launched about a year after City National acquired Rochdale Investment Management.
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The newly launched advisory firm will be led by CEO Garrett D’Alessandro and chief investment officer Bruce Simon.
Richard Gershen, executive vice president and head of wealth management for City National Bank, said: "The new firm, City National Rochdale, is a much deeper and more diversified national wealth management firm with broadened capabilities for bank clients and the clients of financial advisors across the nation.
"City National Rochdale’s disciplined research and access to a broad spectrum of asset classes and investment strategies allows us to create truly personalized portfolios," Gershen added.
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