Bram Goldsmith To Resign As City National Corp.'s Chairman, Effective Oct. 1

(RTTNews) - Bram Goldsmith and City National Corp. (CYN), the parent company of wholly owned City National Bank, announced that he would resign as chairman of the corporation, effective October 1, 2013, but would continue serving on the board as chairman emeritus. Goldsmith would remain active as a member of the company's senior management team and Executive Committee, working full-time with clients, colleagues and community representatives.

Goldsmith was elected to the company's board in 1964, and served as its CEO from 1975 to 1995. During that period, City National's assets climbed to $3.3 billion, from $600 million.

City National's board has named Russell Goldsmith, the corporation's CEO for 18 years, to serve as its chairman in order to ensure continuity. Currently, he's the chairman and CEO of City National Bank and president and CEO of City National Corp.