"[Atlanta is] an attractive market and it’s a big market,” MacDonald said.
Affluent customers are a coveted demographic for banks.
Metro Atlanta has more than 100,000 households with more than $1 million in investable assets, including more than 15,000 households topping $5 million in investible assets, according to data provided by the bank from Phoenix Marketing International.
City National is the 26th-largest bank overall in the United States and also has offices in California, Nevada, New York and Nashville, Tenn.
In addition to financing film and television productions, City National said it provides financial services for 40 percent of Broadway shows.
City National opened its office in the Terminus 200 building with a team of four, including Atlanta office manager David Innes, a veteran of Wells Fargo Private Bank and SunTrust Banks’ entertainment division.
Martha Henderson, executive vice president of the bank’s entertainment division, said many of City National's clients live part-time in Atlanta and other entertainment hubs like New York and Los Angeles.
“The time has been right for some time,” she said.