RBC’s City National Names Hammond CEO, Succeeding Coffey
- Kelly Coffey to remain with firm to run entertainment division
- Move comes after ‘internal bailout’ of lender by RBC
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Photographer: Cole Burston/BloombergCity National Bank said Howard Hammond will succeed Kelly Coffey as its new chief executive officer, just six weeks after the lender’s parent Royal Bank of Canada pumped money into the US firm to shore up its liquidity.
Hammond joins from Fifth Third Bancorp where he was most recently executive vice president and head of consumer banking, according to an emailed statement Friday. Coffey, who has led the firm since 2019, will stay on in a newly created role of CEO of City National Entertainment. The changes take effect Nov. 27.