City National has named Howard Hammond as the new CEO. The appointment is effective on November 27th.
Hammond brings over 30 years of experience in financial services, including 15 years in leadership roles at Fifth Third Bancorp, a major commercial and consumer bank in the United States. His most recent position was as the Executive Vice President and Head of Consumer Banking at Fifth Third, where he oversaw the division's performance, objectives, products, operations, and strategies. This role included leadership of over 8,000 employees and more than 1,000 financial centers. Throughout his tenure at Fifth Third, Hammond held various roles, such as Head of Retail Banking and Brokerage, and President and CEO of Fifth Third Securities, where he played a key role in transforming the business and increasing assets under management by $8.5 billion.
As City National's new CEO, Hammond will lead the bank's 6,600 colleagues with a primary focus on operational excellence. Additionally, he will join City National's board of directors and the Executive Committee of RBC's U.S. intermediate holding company. Hammond will relocate to Los Angeles and will report to Greg Carmichael, Executive Chair of City National.
Source: City National Bank