PHILADELPHIA, June 29, 2021 (GLOBE NEWSWIRE) – The City National Bank announced today that it has hired a new team of private bankers to serve the greater Philadelphia area. The team is based in Radnor, PA, and specializes in the unique financial needs and challenges of high net worth clients.
Led by Matthew Salvitti, Tim Pippet and David Elliott, the new team improves City National’s capabilities in Philadelphia and amplifies the bank’s growth on the East Coast.
“Our expansion to Philadelphia reflects a strong demand for the highly personalized financial solutions, personalized service and sophisticated capabilities that City National is known for,” said Kelly Coffey, CEO of City National. “As a native of Pennsylvania, this community is a perfect fit for City National. I have known Matt, Dave and Tim for many years and they are excellent advisors. They bring a solid expertise that complements our growth strategy on the East Coast.
“I am delighted to welcome this team who will lead our private banking expansion into the greater Philadelphia market,” said Brandon Williams, senior vice president and regional manager of the Eastern Private Banking group of City National. “Matt, Tim and David are great additions to private banking, and I look forward to working with them to help our clients achieve their banking and wealth management goals.
The team specializes in advice and services in investment management, personalized credit, deposit and cash management, wealth planning and fiduciary services to business owners, entrepreneurs, business executives, financial professionals. real estate, owners of professional sports teams, family offices, hedge funds and private. equity and funds, and family foundations. With this expansion, City National will provide its full range of financial capabilities to the greater Philadelphia area.
The leaders of the new Philadelphia area team are:
- Matthew Salvitti, senior vice-president and private banker. Salvitti has spent the past 15 years at JP Morgan, where he recently led the efforts of the regional private banking team to provide planning, investment, lending and trust advice to large individual offices and corporate clients. private business owners. Prior to JP Morgan, he worked at Bear Stearns in the company’s Prime Finance business covering hedge funds and alternative asset managers. Salvitti is a Chartered Merger and Acquisition Advisor (CM&AA) and Chartered Alternative Investment Analyst (CAIA). He sits on the Board of Directors of Girls on the Run Philadelphia and the Executive Committee of the CAIA Philadelphia Chapter. He is active in various other groups including the Alliance of M&A Advisors, the Association for Corporate Growth (ACG) and the Chester County Economic Development Council.
- Tim pippet, senior vice-president and private banker. Pippet has spent the past 18 years at JP Morgan, focusing on providing the company’s lending capabilities to high net worth clients. He started in New York City helping to develop financial sponsorship and hedge fund practices, as well as the global family group covering families in Europe and the Middle East. For the past nine years, Pippet has led Private Banking’s Mid-Atlantic lending practice. He sits on the board of directors and finance committee of Lutheran Settlement House.
- David Elliott, senior vice-president and private banker. Elliott has over 25 years of experience in the financial industry, working in the areas of municipal fixed income, energy, commodities, institutional equities and capital markets, hedge funds and management. of private fortune. Elliott spent the last few years at JP Morgan, as a private banker. Active in the community, he sits on the Golf Committee for Summer Search, a national non-profit mentoring organization, as well as the Jay Sigel Invitational Golf Committee for the benefit of the Abramson Family Cancer Research Institute at the University of Pennsylvania.
This news from the Philadelphia team follows City National’s recent announcement regarding the new national head of its Private Banking division, Abel Montañez. In May, the bank hired a new Cross-Border Banking team in New York. In 2020, City National opened new branches in the Washington, DC and Atlanta area, as well as three new branches in Manhattan – Manhattan West, Flatiron, and NoMad.
City National is backed by Royal Bank of Canada (RBC), one of North America’s leading diversified financial services companies and one of the strongest, safest and best performing banks in the world. RBC’s business model is focused on innovation and delivering exceptional experiences to its 17 million customers in Canada, the United States and 34 other countries.
For a picture of the team, go to:
For a picture of Salvitti, go to:
For a picture of Pippet, go to:
For a picture of Elliot, go to:
About City National
With $ 83.4 billion in assets, City National Bank provides banking, investment and trust services through locations in Southern California, San Francisco Bay Area, Nevada, New York , Nashville, Atlanta, Minneapolis, Washington, DC and Miami *. In addition, the company and its investment subsidiaries manage or administer $ 93.2 billion in client investment assets.
City National is a subsidiary of Royal Bank of Canada (RBC), one of the leading diversified financial services companies in North America. RBC serves more than 17 million personal, commercial, public sector and institutional clients through offices in Canada, the United States and 27 other countries.
For more information about City National, visit the company’s website at cnb.com.
* City National Bank operates in Miami and the State of Florida under the name CN Bank.
Jennifer Harlan, National City Bank, (917) 322-0994