City National Bank has named Bruce Simon as chief investment officer.

Simon brings over 25 years of experience in the investment industry and most recently served as chief investment officer and managing director at Boston wealth management firm Ballantine Partners. Prior to that, he was CIO and managing director at Morgan Stanley's private wealth management unit in New York.

In his new capacity, Simon is tasked to direct the bank's investment strategy and lead its team of portfolio managers. He will also chair City National's investment committee, as well as communicate the firm's views on the economy, investment outlook, and asset allocation. He reports directly to Richard Gershen, executive vice president in charge of City National Wealth Management.

City National Bank is backed by $21.4 billion in total assets and operates through 75 offices in Southern California, the San Francisco Bay Area, Nevada, and New York City.