City National Bank to Acquire Rochdale

April 25, 2012

On April 25, 2012, City National Bank announced that it had agreed to acquire New York-based investment firm Rochdale Investment Management to form City National Rochdale Investment Management.


On April 25, 2012, City National Bank announced that it had entered into a definitive agreement to acquire Rochdale Investment Management.  Rochdale will be combined with City National Investment Management to form City National Rochdale Investment Management.  Rochdale is a $4.8 billion New York City-based investment firm that manages assets for affluent and high-net-worth clients and their financial advisors nationally.  The newly merged firm, a wholly owned subsidiary of City National Bank, will have approximately $18 billion in assets under management and will operate as an independent registered investment advisor.  Sandler O’Neill + Partners served as financial advisor to Rochdale in connection with this transaction. 

To read the press release, please click here.


Categories

Investment Manager M&A, Transactions