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Dec 13, 2021
Russell Goldsmith, chairman of City National Bank and RBC U.S. Wealth Management, was featured in a Dec. 13 article in the Los Angeles Business Journal about his retirement from the company on Jan. 31, 2022. Russell was interviewed about his career trajectory, legacy at City National, and advice for the Los Angeles business community.
When asked about his retirement, Goldsmith said, "City National is more than just a job for me. But you have to be realistic about life … It's right for me personally, and it's also a good time for the business."
Goldsmith has been on City National's board for 43 years and served as chairman and chief executive for more than 20 years. Under Goldsmith’s leadership, the bank has grown into a $91 billion bank, nearly tripling in assets since merging with RBC.
He continued, "I'm proud of the fact that we've continued to be there for our clients and for our communities and continue to maintain for our colleagues the kind of values and working environments we promised everyone. Whatever achievements we've had at City National Bank reflect the work and commitment of thousands of colleagues and the support and relationships we've had with thousands of clients and the support we've gotten from the communities that we serve."
Goldsmith is the son of Bram Goldsmith, who served as chairman and CEO of City National Bank from 1975 to 1995. Bram served as chairman of City National Corp. for more than 40 years. He passed away in 2016. Goldsmith's grandfather, Ben Maltz, also served as chairman and was one of the founders of City National. Goldsmith’s retirement marks the first time in nearly 70 years that a member of his family will not be at the bank’s helm.
Upon his retirement, Goldsmith plans to remain active in the community and work with organizations such as the Los Angeles Coalition for the Economy & Jobs, Cedars-Sinai Medical Center and the Aspen Institute.