City National Rebrands Division as RBC Rochdale
The bank is rebranding its asset management arm and expanding staff to shift toward a holistic advisory model.
Updated on Oct. 30, 2026 in Banking
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City National has officially rebranded its asset management division to RBC Rochdale as part of a strategic effort to signal institutional stability. The bank is also expanding its private bank operations by hiring 85 new staff members and promoting 80 internal employees.
Why it matters
By leveraging the RBC brand and shifting toward a holistic advisory model, City National aims to move away from transactional business practices. This reorganization serves to build institutional trust and secure client retention in a competitive banking market.
City National holds $82.4 billion in total deposits, with $35 billion of that base located in Los Angeles. The bank currently manages $83.9 billion in total assets.
The players
City National
A prominent financial institution headquartered in Los Angeles that is currently owned by RBC.
RBC
A major international financial services company that purchased City National in 2015 to bolster its U.S. presence.
RBC Rochdale
The newly rebranded asset management division of City National designed to align with broader institutional branding.
The details
New hires for the private bank were recruited from rival institutions including Comerica, Wells Fargo, Bank of America, and Wilmington Trust. These personnel changes are intended to capture existing client followership and solidify the bank's position in its California core market.
Timeline
RBC purchased City National in 2015.
FDIC data measured City National deposit market share on June 30, 2026.
RBC released a quarterly earnings presentation in August 2026.
RBC executives discussed U.S. acquisition plans in September 2026.
Banc of California launched private banking services in October 2026.
Market Landscape
This reorganization represents a deliberate pivot to align City National with the broader institutional capabilities of its parent company, RBC. The move helps the firm better compete against local rivals like Banc of California as the regional banking sector consolidates.
Existing clients can expect a greater emphasis on long-term advisory services as the bank transitions away from transactional models. These structural changes are aimed at improving institutional stability and service quality for private banking customers.
The takeaway
The pivot to an advisory-led model suggests that regional banks are prioritizing relationship depth to fend off competition from larger national players. Clients should evaluate if their current banking provider’s new service model aligns with their long-term financial planning needs.
Further reading
For more information on the current state of local banking, visit Los Angeles Banking.
Source note: This article includes information reported by Banking Dive.
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