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City National Opens Banking Office in Lower Manhattan

September 12, 2016

City National Opens Banking Office in Lower Manhattan

Third Office in New York City Continues Company’s Expansion

NEW YORK – City National Bank, America’s Premier Private and Business BankSM  , announced today that it has opened its third full-service banking office in Manhattan at Brookfield Place. The office is located on the 26th floor of 250 Vesey St., formerly known as Four World Financial Center, between the Hudson River and the rebuilt World Trade Center, in the heart of Lower Manhattan.

The new office will provide City National’s premier private and business banking and wealth management capabilities to financial services employees, small and mid-sized businesses, nonprofit organizations, professionals, investors, and other individuals and their families. It will serve colleagues of both RBC U.S. Wealth Management, which has offices in New York, and RBC U.S. Capital Markets, which is headquartered at Brookfield Place. Like City National, RBC Wealth Management and RBC Capital Markets are part of Royal Bank of Canada (RBC).  The two organizations have nearly 3,000 colleagues in New York and New Jersey.

City National merged with RBC in November 2015 and is committed to supporting the work and enhancing the capabilities of RBC’s other U.S. businesses, including RBC Capital Markets and RBC Wealth Management.

The new location continues City National’s steady expansion in New York City, which began in 2002. Nearly a dozen employees will be located in the new office, bringing the number of City National employees in New York City to more than 260, including those at two other locations – 400 Park Avenue, which is also the headquarters of City National Rochdale Investment Management, and 1140 6th Avenue, which also houses the bank’s Entertainment Division.

“This new location and expansion of our private and business banking will enhance our ability to provide clients in New York with City National’s unique brand of relationship banking and wealth management,” said Chairman and Chief Executive Officer Russell Goldsmith. “City National has been successfully growing in New York for over a decade, serving a growing number of the city’s entrepreneurs, professionals, small and mid-sized businesses, entertainment and sports professionals, as well as investors and their families. Our team in this new office will focus, in particular, on delivering its superior banking experience to the area’s growing population of businesses and financial professionals, including the colleagues and clients of RBC Capital Markets and RBC Wealth Management.”

The New York office address is 250 Vesey St., 26th Floor, New York, NY 10281. The telephone number is (212) 207-0111. The office hours are 8:30 a.m. to 5 p.m.

Branch manager Joe Sedillo will also lead its business banking team.

  • With more than 20 years of experience, Sedillo and his team of experts deliver the bank's full range of financial solutions. He joined the bank in 2000 and has been running its 6thAvenue office for four years.

Private banking team leader Phil Hsu will lead the Private Client Services team downtown.

  • With more than 25 years of experience, Hsu will direct the team of private bankers in downtown Manhattan on comprehensive wealth management strategies and banking solutions.

About City National

With $41.2 billion in assets, City National Bank provides banking, investment and trust services through 74 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville and Atlanta.  In addition, the company and its investment affiliates manage or administer $55.7 billion in client investment assets.

City National is a subsidiary of Royal Bank of Canada (RBC), one of North America’s leading diversified financial services companies.  RBC serves more than 16 million personal, business, public sector and institutional clients through offices in Canada, the United States and 36 other countries.

For more information about City National, visit the company’s website at

About RBC

Royal Bank of Canada is Canada’s largest bank, and one of the largest banks in the world, based on market capitalization. We are one of North America’s leading diversified financial services companies, and provide personal and commercial banking, wealth management, insurance, investor services and capital markets products and services on a global basis. We have over 80,000 full- and part-time employees who serve more than 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 36 other countries. For more information, please visit‎

RBC helps communities prosper, supporting a broad range of community initiatives through donations, community investments, sponsorships and employee volunteer activities. In 2015, we contributed more than $121 million to causes around the world.

About RBC in New York

RBC has been present in New York City for more than 100 years and is a leading corporate citizen in the support of the New York community, contributing millions of dollars annually, as well as time invested by hundreds of RBC employees.