City National Bank and RBC U.S. Wealth Management
Russell Goldsmith is chairman of both City National Bank and RBC Wealth Management in the United States.
When Mr. Goldsmith became City National’s Chairman and CEO in 1995, the company had $3 billion in assets, 1,300 colleagues and 16 offices in Southern California. Today, it has over $70 billion in assets, 5,400 colleagues and 74 offices in seven states, including California and New York, as well as the District of Columbia.
In February 2019, after more than 23 years as CEO, Mr. Goldsmith turned over the CEO role to Kelly Coffey, who reports to him, but he remains as the chairman.
In November 2015, when City National was acquired by the Royal Bank of Canada, Mr. Goldsmith also became chairman of RBC U.S. Wealth Management, a nationwide business that today serves more than 315,000 households through 2,000 financial advisors in 42 states. City National Wealth Management and RBC U.S. Wealth Management oversee combined client investment assets of approximately $495 billion. Since the merger, Mr. Goldsmith has also chaired the executive committee of RBC’s Intermediate Holding Company in the United States.
From 2008 through 2011, Mr. Goldsmith represented the Twelfth Federal Reserve District on the Federal Reserve Board’s 12-member Federal Advisory Council and served as its vice president for two years.
Mr. Goldsmith also is the founder and chairman of the Los Angeles Coalition for the Economy & Jobs, an independent organization of local leaders that has been focused on fostering economic and job growth since 2010. From 2006 to 2008, he served as chairman of the Los Angeles Economy & Jobs Committee, which was created by the city’s then 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.
In 2010, he founded the Mid-Size Bank Coalition of America, which today is composed of more than 100 banks across the United States. He chaired the organization until 2015.
Mr. Goldsmith currently serves on the board of directors of Cedars-Sinai Medical Center in Los Angeles and is a member of the Council on Foreign Relations.
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.