City National Bank, America’s Premier Private and Business Bank®, today announced that Richard A. Raffetto will join the company as president, effective August 31, 2020. He will be elected to City National’s board of directors and will report directly to Chief Executive Officer Kelly Coffey.
Raffetto is an outstanding leader with 30 years of experience in corporate and commercial banking, most recently at U.S. Bancorp in New York, and before that at the Bank of New York Mellon.
Over the last 13 years, Raffetto has held various leadership roles within U.S. Bank’s Corporate & Commercial Banking organization, and he most recently served as executive vice president and head of the Industrials & Services, Financial Institutions and Public Sector specialized banking units on a nationwide basis, including teams in Los Angeles and San Francisco. In this capacity, he spearheaded the delivery of broad product capabilities, including credit, capital markets, derivatives, cash management, commercial payments, asset management, trade finance, brokerage, and custody/trust services. He has led and managed large credit portfolios associated with a variety of client types, including corporations, financial institutions, governmental entities and nonprofits.
“We’re delighted to welcome Rich to our team,” Coffey said. “His extensive commercial banking experience, credit expertise and distinctly client-focused approach to business leadership will advance City National’s goal of delivering a superior banking experience to more clients and communities across the United States. I also want to thank our retiring president Chris Warmuth for his many accomplishments and years of invaluable service.”
Warmuth is retiring after 18 years with the bank. He joined City National as chief credit officer in June 2002 when the bank’s loans and deposits totaled $7.9 billion and $9.8 billion, respectively. Today, its loans and deposits total $48.6 billion and $59.7 billion, respectively. Warmuth became president of City National in May 2005, and since then, the bank’s assets have grown from $14 billion to almost $70 billion. He will continue to serve as a member of City National’s board of directors.
“I’m very pleased to join City National as the bank continues to build its outstanding reputation for exceptional client service,” said Raffetto. “I look forward to working with Kelly and her team and the bank’s many remarkable clients.”
Raffetto graduated from the University of Pennsylvania’s Wharton School with a degree in economics/finance and received an MBA from New York University’s Stern School of Business.
Originally from New Jersey, Raffetto is an active member of his community. He sits on the board of Peoples’ Symphony Concerts, a New York City nonprofit, and has also served as the leader of U.S. Bank’s annual New York City employee giving campaign and as a member of the YMCA of Greater New York’s volunteer development committee.
About City National Bank
With nearly $70 billion in assets, City National Bank provides banking, investment and trust services through locations in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville, Atlanta, Minneapolis, Washington, D.C. and Miami*. In addition, the company and its investment affiliates manage or administer $76.9 billion in client investment assets. City National is a subsidiary of Royal Bank of Canada (RBC), one of North America’s leading diversified financial services companies. RBC serves more than 17 million personal, business, public sector and institutional clients through offices in Canada, the United States and 34 other countries
