City National Bank and RBC Wealth Management (U.S.)
Russell Goldsmith is chairman of both City National Bank, a subsidiary of the Royal Bank of Canada (RBC), and RBC Wealth Management in the United States, a nationwide business that serves nearly 315,000 households through 1,800 financial advisors in 42 states. City National Wealth Management and RBC Wealth Management (U.S.) oversee combined client investment assets of more than $450 billion. Mr. Goldsmith also chairs the executive committee of RBC’s Intermediate Holding Company in the United States.
When Mr. Goldsmith became City National’s CEO in 1995, the company had $3 billion in assets, 1,300 colleagues and 16 offices in Southern California. Today, it has more than $53 billion in assets, 5,000 colleagues and 70 offices in six states.
Mr. Goldsmith became chairman of City National in 2013 and was named chairman of RBC Wealth Management (U.S.) in 2015.
Mr. Goldsmith is active in business and civic affairs. As chairman of the Los Angeles Coalition for the Economy & Jobs, he leads an independent organization of local leaders focused on fostering economic and job growth. From 2006 to 2008, he served as chairman of the Los Angeles Economy & Jobs Committee, which was formed by the city’s former mayor, Antonio Villaraigosa.
The Los Angeles Business Journal has named Mr. Goldsmith to its annual list of the 500 most influential Angelenos every year since it began publishing the list in 2016. In 2013, the publication named him “Business Person of the Year” for his leadership of City National Bank and his role as an advocate for economic growth and job creation.
From 2008 through 2011, Mr. Goldsmith was a member of the Federal Reserve Board’s 12-member Federal Advisory Council, representing the Twelfth Federal Reserve District and serving as its vice president for two years. In 2010, he founded the Mid-Size Bank Coalition of America, which is composed of more than 90 banks across the United States. He chaired the organization until 2015. Mr. Goldsmith serves on the board of directors of Cedars-Sinai Medical Center in Los Angeles and is a member of both the Council on Foreign Relations and the Pacific Council.
Mr. Goldsmith was chairman and chief executive officer of publicly held Republic Pictures Corporation, a leading global independent entertainment production and distribution company, from 1986 until it was sold in 1994. He was also vice chairman of the San Diego Padres Baseball Club from 1990 to 1994. He previously served as chief operating officer and a director of Lorimar, Inc., a public entertainment company, from 1983 through 1985.
Mr. Goldsmith began his professional career as an entertainment attorney in Los Angeles. He is a graduate of Harvard College and Harvard Law School.