Royal Bank of Canada has struck a deal to pay $5.4 billion for Los Angeles-based City National Bank, which specializes in working with high-net-worth individuals, including many in the music and entertainment sectors. City National's Music Square East branch, which opened its doors in mid-2011, was home to $128 million in deposits last summer.
Birmingham-based ServisFirst Bank has added Danielle Spence to its team as a vice president of private banking. Spence comes to ServisFirst from Fifth Third, where she was an assistant VP and trust officer, and will work with local high-net-worth people. Ten-year-old ServisFirst has made solid strides since formally setting up shop in Nashville in mid-2013, amassing $55 million in deposits and $125 million in loans last year. Check out more info here.
The Private Client Reserve Group of U.S. Bank has recruited veteran Music Row executive John Briggs to its team. MusicRow.com reports Briggs, who spent a quarter of a century at ASCAP before launching his own firm in 2010, will look to build a team to go after business in Music City's entertainment industry.
“We are thrilled that John has chosen to join our team in the Entertainment & Pro-Sports Group. While John brings with him a vast network of industry professionals, he also brings an extensive 25-year history of managing domestic and international royalty collections across all genres of music, television and film. That deep industry knowledge will be very valuable to both our team, as well as our new and existing clients,” said J. Steven Cook, regional market leader for The Private Client Reserve.
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