Bank beefs up presence for local music industry clients
Expanding its current entertainment business in California and New York, City National Bank has opened its first banking office in Nashville, Tenn., to better serve its music industry clients.Senior VP for entertainment and team manager Holly Bell will head the office, reporting to exec VP and manager of the bank’s entertainment division Martha Henderson. “We’ve been looking at doing this for two to three years,” Henderson told Variety. “At the end of the day, Nashville’s a very local market. You really need to be part of the community.” City National already has some music industry clients, many of whom live in the city, and has assembled a local team including senior relationship managers Lori Badgett, Diane Pearson and David Innes. Innes will serve music industry clients in Atlanta and help clients in Tennessee take advantage of Georgia’s up to 30% tax incentive program. Bank operates out of a temporary office, which offers loans and deposits, in Nashville now and will open its permanent facility over the summer.