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City National Bank Expands to New Jersey with New Private Banking Team

July 28, 2021

City National Bank Expands to New Jersey with New Private Banking Team

City National Bank announced today that it has hired a new team of private bankers in New Jersey. Based in Morristown, the team specializes in meeting the unique financial needs of ultra-high-net-worth clients in New York and New Jersey.

Experienced bankers amplify City National’s East Coast growth 

Morristown, New Jersey — City National Bank announced today that it has hired a new team of private bankers in New Jersey. Based in Morristown, the team specializes in meeting the unique financial needs of ultra-high-net-worth clients in New York and New Jersey.

Led by Tim Cooney and Michael Felix, the new team is part of City National’s strategic East Coast expansion and enhances City National’s capabilities in New Jersey.

“City National already supports many clients based in New Jersey, and it’s an ideal place for the bank to lay down roots to serve the community even better,” said Brandon Williams, senior vice president and eastern regional manager of City National’s Private Banking group. “Tim and Mike are excellent additions to the team. I look forward to working with them to expand the private bank in New Jersey and help our clients achieve their financial goals.”

Cooney and Felix specialize in providing personalized service to ultra-high-net-worth individuals and their families, entrepreneurs, business owners and other professionals. They serve family offices and hedge fund and private equity principals and firms, as well as many clients in the pharmaceutical, insurance and commercial real estate industries.

The new Private Banking team will collaborate with experts on City National’s Commercial Banking team; its investment management arm, City National Rochdale; the bank’s Personal and Business Banking team; and its parent company, Royal Bank of Canada, to deliver the bank’s full suite of financial capabilities to New Jersey.

Leading the New Jersey team are:

  • Tim Cooney, senior vice president and private banker. Cooney brings over 20 years’ experience working with accomplished clientele customizing financial advice and high-touch service for wealthy individuals, families and institutions. Prior to joining City National, Cooney was a senior vice president at Bank of America Private Bank (formerly U.S. Trust). Previously, Tim was an executive director in the Private Bank at J.P. Morgan, where he worked closely with affluent families, endowments and foundations. Cooney began his financial services career in 2000 at Goldman Sachs, where he was a vice president in the Equity Products Group covering some of the firm’s largest and most profitable New York accounts.

  • Michael Felix, vice president and client manager. Prior to joining City National, Felix spent 11 years at Bank of America Private Bank, where he was a private client manager. In this role, he worked with accomplished business owners, with a special interest in serving some of the largest real estate families, developers, investors and executives in the NY region. Previously, Felix served on U.S. Trust’s national business owner strategy team, where he facilitated the delivery of the firm’s strategy and capabilities to owners and executives of closely held businesses.

This new team is the latest development in City National’s strategic expansion on the East Coast. The bank recently hired a new Private Banking team in Philadelphia and a new Cross-Border Banking team in New York. In 2020, City National opened new branches in the Washington, D.C., area and Atlanta, as well as three new branches in Manhattan — in Manhattan West, Flatiron and NoMad.

City National is backed by Royal Bank of Canada (RBC), one of North America’s leading diversified financial services companies and one of the strongest, most secure and best-performing banks in the world. RBC’s business model has a focus on innovation and providing exceptional experiences to its 17 million clients in Canada, the U.S. and 27 other countries.

Click here for an image of the team.

Click here for an image of Cooney.

Click here or an image of Felix.