City National Bank to Contribute $3 Million to help with Los Angeles Fire Relief Efforts

City National Bank, a prominent regional financial institution with strong ties to the entertainment industry, is actively contributing to the relief efforts in response to the recent wildfires that ravaged Los Angeles County.

The bank, led by CEO Howard Hammond, along with its parent company Royal Bank of Canada (RBC), has pledged a generous sum of $3 million to various organizations including the Entertainment Industry Foundation, International Medical Corps, Neighborhood Housing Services Los Angeles County, United Way of Greater Los Angeles, and West Los Angeles Community Development Corporation.

“As the largest bank headquartered in Los Angeles, this tragedy hits close to home for us. Our clients, employees, and communities are facing unimaginable devastation,” stated President and CEO Hammond. “We recognize the importance of supporting both the immediate needs in the aftermath of these fires and the long-term rebuilding efforts.”

This commitment follows a similar pledge of $2 million by JPMorgan Chase to support wildfire recovery efforts in Southern California. CEO Jamie Dimon expressed solidarity with those affected by the fires, emphasizing their support for the community.

Several major studios, many of which are based in Southern California, have also stepped up with significant donations. Disney, Warner Bros. Discovery, Amazon, YouTube, Comcast, Netflix, Sony, Paramount Global, and Fox Corp have all contributed substantial amounts to aid in relief efforts.

The recent wildfires, including the Palisades Fire and Eaton Fire, have caused extensive damage, with thousands of acres burned and numerous structures destroyed. The economic impact has been estimated to be between $250 billion to $275 billion by AccuWeather, highlighting the severity of the situation.

Dave McKay, President and CEO of RBC, expressed sympathy for the families impacted by the fires and commended the response teams for their tireless efforts in battling the fires and providing relief.

City National Bank’s proactive involvement in the wildfire relief efforts underscores their commitment to supporting the community during this challenging time.



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