HOLLY HILL, Fla., July 2, 2014 (GLOBE NEWSWIRE) -- Los Angeles-based City National Bank, America's premier private and business bank, announced today that it has opened an office in the Daytona Beach area and hired two new colleagues with experience serving the entertainment, sports and motorsports industries.
David Pijot has joined City National as a senior vice president and relationship manager and Elaine Cunningham has joined the bank as an assistant vice president and account manager. Pijot has more than three decades of experience in banking and finance, and was formerly the founder of the motorsports division of the sports and entertainment group at SunTrust Bank in Daytona Beach. Cunningham was previously a client support specialist with SunTrust's sports and entertainment group. Both report to Holly Bell, senior vice president and Southeast team manager for City National's Entertainment Division in Nashville, Tenn.
"This is a natural migration for City National Bank," said Bell. "A number of our entertainment and entrepreneurial clients are heavily involved in the motorsports industry, which is based here and popular nationwide. We have deep roots in the sports and entertainment industries, and the addition of this very talented team allows us to serve more clients."
City National is now the 23rd largest American commercial bank and has been listed by Barron's as one of the nation's top 40 wealth management firms for the past 13 years. This year, the bank celebrates its 60th anniversary.
The motorsports industry is one of the most popular spectator sports. The total value of the U.S. racing market is estimated at $13.5 billion, according to the British trade group Motorsport Industry Assn. NASCAR attracts billions of dollars in sponsorship money each year, and reportedly one in three Americans are fans, according to Forbes.
Pijot had worked with SunTrust in Daytona Beach since 1978. He has a bachelor's degree in Finance from the University of Florida in Gainesville. Cunningham started at SunTrust in 1995, and before that worked for more than a decade at South Carolina National Bank.
The address of the new office is:
City National Bank
101 Second Street, Suite 402
Holly Hill, FL 32117
Pijot can be reached at (386) 547-6753, or for other inquiries please call (615) 782-5620. Hours will be by appointment only. The bank has no immediate plans to open a full-service branch there.
About City National
City National Corporation (NYSE:CYN) has $29.7 billion in assets. The company's wholly owned subsidiary, City National Bank, provides banking, investment and trust services through 77 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville and Atlanta. City National and its investment affiliates manage or administer $66.4 billion in client investment assets, including $46.4 billion under direct management.
For more information about City National, visit the company's Website at cnb.com.