Qualified Intermediary

City National Bank

City National Bank · Parent: Royal Bank of Canada (City National Bank is a subsidiary; RBC Wealth Management-U.S. affiliate, per the 08/22 CNB/RBC PDF) · Firm website

FEA membership: FEA member
CES® holders: CES® on staff; names not published on cited pages
Fidelity bond: Not published on cited pages
E&O / other cover: Not published on cited pages
How funds are held: Segregated
Dual-signature wires: Wire controls unknown
Reverse / improvement / DST: Reverse Unknown · Improvement Unknown · DST Unknown
Last sourced: 2026-09-05

Fund handling

CNB wealth page: sale proceeds invested in a City National Bank money-market account; interest credited to the account; FDIC insured up to the stated limit. 08/22 RBC/CNB PDF: after escrow closes, proceeds go to a segregated City National Bank account. The bank says it serves directly as QI rather than through a subsidiary.

Who keeps the float

Interest earned on the City National Bank money-market (or other deposit) account is credited to the exchanger’s account, per the CNB 1031 page and the 08/22 PDF.

Who it is for

Investment-property owners who want City National Bank itself — not a subsidiary QI brand — to hold 1031 proceeds in a CNB deposit account. The wealth page and PDF do not publish a national reverse/improvement menu.

Verdict

A bank-as-QI file: segregated CNB account, interest to the client, FEA membership and unnamed CES® staff on the 08/22 PDF. Stronger on deposit-bank custody language than on published insurance limits (none on the primary pages used here — do not import third-party bond tables). Reverse, improvement, and DST capability are unpublished on those pages. Confirm current certificates, who can wire, and whether your file is actually booked on the bank — not a referral to another QI.

Notes

This is a QI custody file, not a securities offering. City National Bank’s wealth-management 1031 page (fetched 2026-09-05) states the bank will serve directly as Qualified Intermediary — “most institutions operate their exchanges through a subsidiary.” Proceeds go into a City National Bank money-market account; interest is credited to that account; deposits are FDIC insured up to the stated statutory limit (the page does not print a dollar cap beyond “the stated limit”).

The August 2022 RBC Wealth Management PDF repeats the money-market / interest-to-client story and adds that closed-escrow proceeds are directed to a “segregated City National Bank account.” It states City National is an FEA member and that “City National’s Certified Exchange Specialist® can guide you through the exchange process.” No CES® individual is named on that PDF or the CNB page, so names are omitted. Fidelity and E&O dollar amounts do not appear on either primary source and are omitted.

The PDF identifies City National Bank as a subsidiary of Royal Bank of Canada and an affiliate of RBC Wealth Management-U.S., a division of RBC Capital Markets, LLC. That is the parent language used here. Reverse, improvement, and DST products are not described on these two pages.

Sources

1031 Exchange Services — City National Bank2026-09-05
1031 Exchange Services from City National Bank (RBC Wealth PDF)2022-08-01

Share a factual note

Prewritten LinkedIn text. No hype. No affiliate link.

City National Bank (City National Bank) has a custody file on The QI File — published facts only. No star rating. No paid placement.

FEA: FEA member. Funds: Segregated. Dual-sign: Wire controls unknown.

Unknown on that file means unpublished, not a grade.

https://www.theqifile.com/firms/city-national-bank/

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Corrections and verification

Listings are sourced from public pages. Unknown is omitted, not graded. If a fact is wrong or stale, send the primary URL.