City National Adds Two Experienced Technology Bankers To Lead a Growing Team in Silicon Valley
SAN FRANCISCO – To enhance its growing technology banking business, City National Bank has added two seasoned bankers who will lead the team responsible for providing technology companies and entrepreneurs with a wide array of credit, banking and investment solutions.
Rod Werner joins City National as senior vice president and managing director of technology banking. Werner is a Bay Area native with more than 20 years of experience in the Silicon Valley. He was recently the assistant group manager for venture capital in the technology and life science division at Comerica Bank. There, he was responsible for managing relationships with venture capitalists and making loans and negotiating credit facilities with many businesses in the Silicon Valley. Werner is a graduate of San Jose State University. He will report to Rod Banks, City National’s manager of commercial banking.
The bank also has hired John Kreutter as senior vice president, credit administration. Kreutter had been with Comerica since 1977 and was senior credit administration manager for the bank’s technology and life science division. He is a graduate of Olivet College in Michigan and has a master’s degree in business administration from the University of Detroit Mercy in Michigan. He will report to Brian Fitzmaurice, City National’s chief credit officer.
City National has been doing business in California for nearly 60 years. The company expanded into the Bay Area in 2000. Today, it has 11 offices in Palo Alto, San Jose, San Francisco, Burlingame, Walnut Creek and Alameda County. Next year, the company plans to open two more Bay Area offices, including one in the technology district South of Market Street in San Francisco.
Werner and Kreutter both will work out of City National’s Palo Alto office.
“City National banks technology companies and entrepreneurs up and down the state of California,” said Chairman and Chief Executive Officer Russell Goldsmith, “and the addition of these outstanding leaders to our team is an important step forward in our longstanding initiative to expand business banking and wealth management relationships across the broad array of fast-growing technology and life science industries.”
City National’s technology team will expand current client relationships and build new ones with established and emerging companies, including venture capital-backed firms and their owners. Werner and Kreutter will enhance the bank’s ability to meet the financial needs of technology, life science, and digital media businesses with ties to the entertainment industry. City National has been serving the entertainment industry for many years.
City National also continues to add colleagues who are focused on meeting the private banking and investment needs of entrepreneurs and business executives in key technology markets, including the Silicon Valley and New York. Today, the company announced the addition of Laxmi Poruri, a private client advisor with experience in the Silicon Valley. Poruri is an entrepreneur who graduated from Stanford University and has a master’s degree in business administration from McGill University in Canada. She reports to Kent Grubaugh, City National’s private client services manager for the Bay Area region.
City National Bank is the wholly owned subsidiary of City National Corporation (NYSE: CYN). It is backed by $26.3 billion in total assets, and provides banking, investment and trust services through 78 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville and Atlanta. The company and its investment affiliates manage or administer $56.7 billion in client investment assets, including $38.0 billion under direct management.
For more information about City National, visit the company’s Website at cnb.com.