{"id":459144,"date":"2021-03-16T16:20:42","date_gmt":"2021-03-16T20:20:42","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=459144"},"modified":"2021-03-16T16:20:42","modified_gmt":"2021-03-16T20:20:42","slug":"city-national-bank-appoints-john-h-bai-chief-financial-officer","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/city-national-bank-appoints-john-h-bai-chief-financial-officer\/","title":{"rendered":"City National Bank Appoints John H. Bai Chief Financial Officer"},"content":{"rendered":"<h2>\nBai Joins from RBC to Succeed Christopher J. Carey<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"left\">LOS ANGELES, March  16, 2021  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=9xmhIU2u-IkDpD1mywq9vsV6AyPgvsrsG6nS0e7va-dSniLFMjqPh2KwIjoB6NA7y0Y8kIIyMpME7pbd5KpN-g==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">City National Bank<\/a>, America\u2019s Premier Private and Business Bank<sup>\u00ae<\/sup>, today announced that John H. Bai will join the company as chief financial officer, effective May 1. Bai will report to Kelly Coffey, chief executive officer of City National, and Rod Bolger, CFO of Royal Bank of Canada. Christopher J. Carey, currently the CFO of City National, is retiring from the role.<\/p>\n<p>As CFO, Bai will oversee the finance, accounting and treasury functions at City National, as well as asset and liability management, corporate development, insurance, corporate real estate, and banking operations and investment services. He will also serve as a member of the company\u2019s Executive Committee and Strategy and Planning Committee.<\/p>\n<p>\u201cJohn is a seasoned financial leader with more than 25 years of broad financial services experience and a strong track record of success,\u201d said Coffey. \u201cCity National is a growth company, and I am confident that John\u2019s considerable expertise, leadership and skills will help us continue our trajectory as we grow to serve our clients even better. I also want to thank Chris for his friendship and leadership over the past two years since I joined the bank. He is a true team player.\u201d<\/p>\n<p>\u201cCity National has an incredible story and a compelling client-first business model,\u201d said Bai. \u201cI look forward to joining the team and helping City National continue to grow.\u201d<\/p>\n<p>Prior to joining City National, Bai served as CEO and president of RBC\u2019s Direct Investing team, Canada\u2019s second-largest online brokerage, serving clients who prefer to manage their own investments. Prior to his current role, Bai was the head of RBC\u2019s Wealth Management Finance division, overseeing teams in Canada, the UK, Singapore and Hong Kong. Before that, he led RBC\u2019s Enterprise Performance Management team, overseeing management reporting, forecasting and planning, enterprise-level capital management, enterprise-wide initiatives and macro stress testing. Previous roles include nine years as a senior portfolio manager at Fiera Capital Corporation, a global independent asset management firm, and before that, nearly two years at RBC in Strategy &amp; Corporate Development. He is also a chartered accountant who trained at PwC, and a chartered financial analyst.<\/p>\n<p>Since 2010, Bai has served as chair of the board of CODE Inc. Foundation, which supports Canada\u2019s leading education and literacy-focused international development agency.<\/p>\n<p>Carey has stepped down from his former role after 17 years at the bank. He has helped the bank successfully navigate not only the current financial crisis brought about by the pandemic, but also the Great Recession. He also played a key role in the bank\u2019s merger with RBC in 2015, and he has helped the organization maintain a strong and consistent growth trajectory since he first joined in 2004.<\/p>\n<p>He will remain chair and CEO of RBC US Group Holdings LLC, the intermediate holding company for Royal Bank of Canada\u2019s U.S. operations, including RBC Capital Markets\u2013U.S., RBC Wealth Management\u2013U.S., RBC Global Asset Management\u2013U.S., RBC Bank (Georgia) and City National Bank.<\/p>\n<p>\u201cChris has been an important member of our senior management team and instrumental in our success and growth for the past 17 years, especially in our years with RBC,\u201d said Russell Goldsmith, chairman of City National. \u201cHe has provided invaluable service to our organization and has been a trusted advisor to me, the Board of Directors and so many other colleagues. I wish him great success in this next chapter of his career as chair and CEO of RBC US Group Holdings LLC.\u201d<\/p>\n<p>With 35 years of experience as an executive in the banking industry, Carey joined City National from Cincinnati-based Provident Financial Group Inc. Carey also serves on the board of BrightLine, a provider of advanced TV technology for over-the-top and smart TV advertising opportunities. Passionate about supporting the community, Carey serves on the advisory board for Shatterproof, a national nonprofit organization dedicated to ending the devastation that addiction causes families. In addition, he serves on the board of the United Way of Greater Los Angeles, chairs the organization\u2019s Audit Committee and was formerly chair of the board. He also serves on the L.A. Business Leaders Task Force on Homelessness.<\/p>\n<p>For an image of Bai, go to: <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=adVFk-rCnUMQz_RQzJwM4lJw0icPGGsfbb-w9h2aTVBTHfsiKBItC289wZq5mFaMUMqDTDgdKlVas8iqbhnsBRASjwBopttAn9depoflqTnzznmCxPcr9nvuoSsx3VUjPShTQTEDn3w_mdq5-1gtfzEFB0F2leGrRCfSv7tzrqGHUJutTV4bYLCKyve9gDMgSjIMsDLeZ7Qnsl5UsFKNIA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.cnb.com\/content\/dam\/media_newsroom\/images\/John-Bai.jpg<\/a><\/p>\n<p>\n        <strong>About City National Bank<\/strong>\n      <\/p>\n<p>With $75.8 billion in assets, City National Bank provides banking, investment and trust services through locations in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville, Atlanta, Minneapolis, Washington, D.C., and Miami*. In addition, the company and its investment affiliates manage or administer $86.3 billion in client investment assets.<\/p>\n<p>City National is a subsidiary of Royal Bank of Canada (RBC), one of North America\u2019s leading diversified financial services companies. RBC serves more than 17 million personal, business, public sector and institutional clients through offices in Canada, the United States and 34 other countries.<\/p>\n<p>For more information about City National, visit the company\u2019s website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=y7KoMPvc7nZAV8ESKZWRZZ93zcN6knfPj9MKkx5RDul57IaUUFrrbfTq3XBnrwKqhhSFiY-TpGtMkHngoQWVWg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">cnb.com<\/a>.<\/p>\n<p>\n        <em>*City National Bank does business in Miami and the state of Florida as CN Bank.<\/em>\n      <\/p>\n<p>\n        <strong>Media Contact:<\/strong><br \/>\n        <br \/>Jennifer Harlan, City National Bank, 917-322-0994<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=yhVrsqhNj6c5i6-QaCF285-kkO4jWUeHXx8f9vZpeC5i3mKnsAvXYXCxATTnRs53eo1GEIDKZ0MREGoXs4C7OVFRjJYwHSl7zLRLLCe34aM=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Jennifer.Harlan@cnb.com<\/a><\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE5MTI4MyM0MDY3NTcxIzIwMjc3MDQ=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/1af966a7-2a7b-4c4e-ac02-7d08fcad9f32\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bai Joins from RBC to Succeed Christopher J. Carey LOS ANGELES, March 16, 2021 (GLOBE NEWSWIRE) &#8212; City National Bank, America\u2019s Premier Private and Business Bank\u00ae, today announced that John H. Bai will join the company as chief financial officer, effective May 1. Bai will report to Kelly Coffey, chief executive officer of City National, and Rod Bolger, CFO of Royal Bank of Canada. Christopher J. Carey, currently the CFO of City National, is retiring from the role. As CFO, Bai will oversee the finance, accounting and treasury functions at City National, as well as asset and liability management, corporate development, insurance, corporate real estate, and banking operations and investment services. He will also serve as a member of the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/city-national-bank-appoints-john-h-bai-chief-financial-officer\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;City National Bank Appoints John H. Bai Chief Financial Officer&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-459144","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>City National Bank Appoints John H. Bai Chief Financial Officer - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/city-national-bank-appoints-john-h-bai-chief-financial-officer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"City National Bank Appoints John H. Bai Chief Financial Officer - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Bai Joins from RBC to Succeed Christopher J. Carey LOS ANGELES, March 16, 2021 (GLOBE NEWSWIRE) &#8212; City National Bank, America\u2019s Premier Private and Business Bank\u00ae, today announced that John H. Bai will join the company as chief financial officer, effective May 1. Bai will report to Kelly Coffey, chief executive officer of City National, and Rod Bolger, CFO of Royal Bank of Canada. Christopher J. Carey, currently the CFO of City National, is retiring from the role. As CFO, Bai will oversee the finance, accounting and treasury functions at City National, as well as asset and liability management, corporate development, insurance, corporate real estate, and banking operations and investment services. He will also serve as a member of the &hellip; Continue reading &quot;City National Bank Appoints John H. 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As CFO, Bai will oversee the finance, accounting and treasury functions at City National, as well as asset and liability management, corporate development, insurance, corporate real estate, and banking operations and investment services. He will also serve as a member of the &hellip; Continue reading \"City National Bank Appoints John H. 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