(Bloomberg) City National's sale to Royal Bank of Canada bestows new wealth on two men who have served as Hollywood’s private bankers since Steven Spielberg filmed "Jaws."
Russell Goldsmith, 64, the Los Angeles-based bank's chief executive officer since 1995, holds shares with a value of $373.8 million at the deal price, according to data compiled by Bloomberg and based on regulatory filings from last year. His father Bram, who ran the bank for two decades before his son, owns shares valued at an additional $308.7 million. A family foundation holds $21.9 million, bringing the combined holdings to about $704 million.
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