City National Bank Moves Headquarters to Downtown LA

As new residents flock to downtown, so do businesses. Last week, City National Corp. announced that it will move its corporate headquarters and subsidiary, City National Bank, from Beverly Hills to downtown Los Angeles. "The move is symbolic in nature -- few if any personnel will make a move -- but is important in terms of Downtown's place in the financial world," according to blogdowntown. "While Downtown Los Angeles was historically home to a number of prominent banks, decades of mergers and acquisitions have left the Central City almost void of the financial headquarters." Although some banks like U.S. Bank have naming rights to building tops, they do not have headquarters in downtown or even California. Only a handful of banks make Central City their home.