City National Private Bank Doubles Down on Growth: Brandon Williams Talks Strategy with Banking Dive

Oct 30, 2026

City National is making significant investments in its private bank and wealth management business and leveraging the capabilities of Royal Bank of Canada to better serve clients. “We can be local and highly personalized, and we can deliver with RBC as our parent company, with its stability and institutional capabilities,” said Brandon Williams, executive vice president and head Private Bank & Wealth Management. “It’s the best of both worlds.”

City National posted a record quarter in its most recent reporting period and is now in what leadership calls “full-on growth mode.” Growing the private bank and wealth management business is one of the bank’s key priorities, said Williams. Since taking the role 13 months ago, Williams has reshaped leadership and significantly expanded the workforce. Over the past year, the division has hired approximately 85 people and promoted 80.

The environment for hiring is highly competitive, Williams acknowledged, but he said the combination of City National’s local, relationship-oriented culture and RBC’s institutional scale gives the bank a compelling story for prospective hires.

“We’re highly selective,” Williams said. “We spend a lot of time with prospective candidates to ensure that they align to our business, our client-first model, and our values.”

Notable recent hires and promotions include:

• Darcy Roennfeldt, managing director and national head of City National’s Trust & Estate Services team
• Shannon Patterson Saltos, regional managing director of the Private Bank, Eastern Region, and co-leader of City National Private Bank nationally alongside Steve Sherline, appointed last year to lead the Western Region
• Charles Luke, promoted to head of investments for the newly formed bank investment management group within City National, and continues as chief investment officer for both City National and RBC Rochdale
• Bill Maguire, CEO and president of RBC Securities, the bank’s broker-dealer

Combined Capabilities of Four Specialized Businesses

The private bank and wealth management division is made up of four distinct businesses, each playing a role in the growth strategy:

• Private Bank — Delivers advisory services around custom credit, depository services, investment management, wealth planning, and trust and estate services to high-net-worth and ultra-high-net-worth clients.
• RBC Securities — The bank’s broker-dealer, providing investment solutions to consumer, business, entertainment, middle market and private bank clients.
• Trust and Estate Services — Includes City National Trust and RBC Trust Company (Delaware) Limited, supporting private bank clients, RBC wealth management financial advisors, and select third-party financial institutions.
• RBC Rochdale — An asset manager providing customized investment management portfolios to independent registered investment advisors and financial advisors nationwide.

The division serves clients with complexity and wealth — wealthy individuals, business owners, family offices, and multi-generational families — in Southern California, where City National has been headquartered for over 70 years, as well as throughout the country. The bank is actively investing in Northern California and New York as core growth markets while evaluating expansion into Charlotte, Nashville, and the broader Southeast.

A Team-Based Advisory Model

The private bank operates on a team-based model, Williams explained. Clients are supported by a group of experts, including a private banker, an investment strategist, a wealth planner, and a trust advisor, who work together to build a comprehensive financial plan and help the client navigate through any economic environment or life cycle.

“We spend time deeply understanding the individuals and family and their financial objectives,” Williams said.

Advising Business Owners Through Every Stage

One of the private bank’s distinctive capabilities is its Business Owner Advisory Group, which advises business owners at every stage of the liquidity lifecycle.

“We have a business owner advisory group within the City National Private Bank & Wealth Management division, where we advise the business owner to help maximize the value of a transition,” Williams said. “So there’s a natural synergy to collaborate with City National’s middle market and commercial banking teams to support those clients through whatever cycle they’re in.”

As City National hires commercial and middle-market bankers and builds out that business, the private bank can add value to those business owners from a wealth perspective — whether they are building, maturing, or transitioning their companies.

New Investment Capabilities

Beyond talent, City National has expanded its alternatives platform and investment offering over the past year, broadening the solutions available to high-net-worth clients. The bank has also been leveraging AI tools and platforms developed by RBC to create operational efficiencies, though Williams is clear about where technology fits in the private banking relationship.

“AI will be an enabler, but when we’re in the business of relationships and trust and complexity, that’s where the human touch is really our competitive advantage,” Williams said.

Clients with complexity require subject matter experts who understand their particular situation and can build personalized plans — a human role that Williams said will not change.

Read more in Banking Dive: City National private bank plays up RBC tie.