City National Bank Continues East Coast Expansion with New Private Banking Office in Philadelphia area

New office enables City National to offer their high touch, highly customizable private banking solutions to entrepreneurs, family offices, and more.

City National Bank, America’s Premier Private and Business Bank®, announced today that it is opening its newest private banking office on the Philadelphia Main Line, which is located at 3 Radnor Corporate Center, 100 Matsonford Rd, Second Floor, Suite 210, Radnor, PA 19087. The new office is City National’s latest expansion of east coast operations and will offer highly customizable banking and wealth management solutions to high net worth individuals, entrepreneurs, family offices, and more.

“We are excited to open the doors to our new private banking office in the Philadelphia area,” said Matthew Salvitti, Senior Vice President. “From investment management and wealth planning to customized credit solutions, City National’s highly customizable, high touch service has seen increased demand in the Philadelphia area and our new office in Radnor will offer the exceptional personal service our clients expect and deserve.”

“City National is committed to the Greater Philadelphia market and will continue to grow our base of business from our new Private Banking office in Radnor,” said Brandon Williams, senior vice president and Head of City National’s East Coast Private Banking Group. “Our team provides a best in class private banking experience and have a proven track record of delivering comprehensive solutions to ultra-high net worth clients.”

Leading the new Radnor, PA office are:

• Matthew Salvitti, senior vice president and private banker. Salvitti has spent the past 15 years with J.P. Morgan, where he most recently led the regional private banking team’s efforts in providing planning, investing, lending and trust advice to large single-family offices and closely held business owners. Prior to J.P. Morgan, he worked at Bear Stearns in the firm’s Prime Finance business covering hedge funds and alternative asset managers. Salvitti is a Certified Merger & Acquisition Advisor (CM&AA) and a Chartered Alternative Investment Analyst (CAIA). He serves on the Board of Girls on the Run Philadelphia and the executive committee of the CAIA Philadelphia chapter. He is active in various other groups including the Alliance of M&A Advisors, the Association for Corporate Growth (ACG) and the Chester County Economic Development Council.
  
  
• Tim Pippet, senior vice president and private banker. Pippet has spent the past 18 years at J.P. Morgan, with a focus on delivering the firm’s lending capabilities to ultra-high-net-worth clients. He started out in New York helping grow the financial sponsor and hedge fund practices, as well as the global families group covering families in Europe and the Middle East. Over the past nine years, Pippet led the Private Bank’s Mid-Atlantic Lending Practice. He sits on the board and the finance committee of Lutheran Settlement House.
  
  
• David Elliott, senior vice president and private banker. Elliott has more than 25 years’ experience in the finance industry working across municipal fixed income, energy, commodities, institutional equities and capital markets, hedge funds, and private wealth. Elliott spent the past several years at J.P. Morgan, as a private banker. Active in the community, he serves on the golf committee of Summer Search, a national nonprofit mentoring organization, as well as the Jay Sigel Invitational golf committee benefiting the Abramson Family Cancer Research Institute at the University of Pennsylvania.
  

The City National Bank team specializes in advice and services in investment management, customized credit, depository and cash management, wealth planning, and trust services to business owners, entrepreneurs, corporate executives, real estate professionals, professional sports team owners, family offices, hedge fund and private equity principals and funds, and family foundations.