January 13, 2009

Russell Goldsmith Reappointed to the Federal Advisory Council

Russell Goldsmith

San Francisco, January 13, 2009 – Russell Goldsmith, chairman and CEO of City National Bank, was reappointed to represent the Twelfth Federal Reserve District on the Federal Advisory Council. His second term begins January 1, 2009. 

The Federal Advisory Council (FAC), a body created by the Federal Reserve Act, consists of one member – generally from the commercial banking industry – from each of the twelve Reserve Bank Districts. The council ordinarily meets four times a year with the Board of Governors in Washington, D.C., to discuss economic and banking matters. Members customarily serve three one-year terms.

Mr. Goldsmith also serves as president and CEO of City National Bank’s parent company, Los Angeles-based City National Corporation (NYSE: CYN). He has been a director of both the bank and its parent company since 1978.

Mr. Goldsmith recently completed serving as chairman of the Los Angeles Economy & Jobs Committee, which was formed by L.A. Mayor Antonio Villaraigosa.

Mr. Goldsmith serves on the boards of directors of Wynn Resorts Ltd, the Financial Services Roundtable and the Jewish Federation Council of Greater Los Angeles.  He also is a trustee of the Harvard-Westlake School and a member of the Council on Foreign Relations.  He was a director of the Los Angeles branch board of the Federal Reserve Bank of San Francisco for six years until the end of 2004.

Mr. Goldsmith is a graduate of Harvard College and Harvard Law School.

The Federal Reserve Bank of San Francisco, with branch offices in Los Angeles, Seattle, Salt Lake City, and Portland, and a cash processing office in Phoenix, provides wholesale banking services to financial institutions throughout the nine western states.  As the nation's central bank, the Federal Reserve System formulates monetary policy, serves as a bank regulator, administers consumer protection laws, and is fiscal agent for the U.S. government.

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