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City National Bank Launches National Food & Beverage Banking Team

September 30, 2016, 07:15 AM

City National Bank announced that it has hired David Hasenbalg as a national food and beverage manager to build a team of experienced bankers who can bring financial solutions to the food and beverage industries.

Hasenbalg has more than 20 years of experience in financial services and the food and beverage industries. Prior to joining City National, he served as managing director of GE Capital’s Food & Beverage Group and previously spent nearly a decade in management at the E&J Gallo Winery.

"David is an expert serving the financial needs of the nation’s food and beverage industries and we are pleased to have him join City National," said Robert Iritani, executive vice president of City National’s Specialty Banking division and regional executive for Orange County. "City National has a long history of meeting the specialized banking needs of entrepreneurs, technology companies and legal firms. We’re excited about adding the food and beverage industries to our areas of expertise.”

The team will specialize in “farm to fork,” serving food processors, food distributors and grocery retailers with expertise in sales, credit, sales management, operations and capital markets nationwide as they apply specifically to the food and beverage industries. The global food and agricultural industry for 2015 was about a $7.8 trillion market, according to Plunkett Research estimates, or about 10 percent of the world's GDP. In the U.S., food accounts for approximately 13 percent of a typical household's spending, ranking third behind housing and transportation, according to the U.S. Bureau of Labor Statistics.

“City National is known for providing the kind of dedication and deep domain expertise that is exactly what companies look for in a long-term banking relationship,” said Hasenbalg, who will work primarily out of the Irvine, CA, office. “I am very pleased to be joining CNB.”

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