Add City National Bank to the list of lenders setting up camp in Charlotte.
The $98 billion-asset Royal Bank of Canada subsidiary opened a 23,000-square-foot office in the North Carolina financial hub Monday – and a 5,700-square-foot location in Greenville, South Carolina – to solidify its presence across the Southeast, the lender said.
The locations are meant to serve as a base for roughly 120 employees in risk management, commercial banking, credit products and auditing, according to The Charlotte Observer.
The employees had previously worked remotely in the region. The offices are meant to demonstrate the bank’s commitment to investing more resources in the Southeast – and the Carolinas specifically, Charlie Arndt, City National’s executive vice president for Southeast middle-market banking, told the publication.
Los Angeles-based City National already has Southeast offices in Atlanta; Miami; and Nashville, Tennessee.
City National did not disclose how much it’s investing in its Charlotte and Greenville efforts. But it’s hardly the only lender to push to expand in the coveted Sun Belt this year.
U.S. Bank in August said it wanted to double its branch presence in Charlotte, where it already counts about 60,000 retail customers, including 5,000 business clients.
Citi, a month earlier, said it would spend $16.1 million to open an office in the city, creating 510 jobs.
Huntington announced a plan in September 2024 to open 55 branches in six Carolina markets, including Charlotte and Greenville, by 2029.
PNC also targeted Charlotte in its expansion plan last fall – and turned its attention to Nashville in an update last month.
Fifth Third touted the opening of its 100th branch in the Carolinas this month.
The influx of banks from outside of the Southeast may be prompting Sun Belt-native lenders like Memphis-based First Horizon to boost its workforce base “across the region and specifically in Charlotte.”
For its part, City National is hiring additional local talent across its middle-market banking division and other units.
“Charlotte and Greenville are vibrant, innovative markets, and we look forward to delivering the high-touch service our clients value, backed by local expertise,” Howard Hammond, City National’s CEO, said in a release Monday.
Arndt said the Charlotte and Greenville expansion “reflects our positive momentum and the strength of our middle-market banking division.”
“It symbolizes the great potential we have ahead, not just for our clients, but for our colleagues and the communities we serve,” he said.
