Money Management

City National Rochdale chooses new CIO

Matthew Peron was named chief investment officer of City National Rochdale, the money management division of City National Bank.

Mr. Peron replaced Bruce Simon, who left CN Rochdale to become managing director and director of portfolio research at Ballentine Partners, according to a City National Bank spokeswoman.

Mr. Peron was executive vice president and managing director of global equity at Northern Trust Asset Management. He resigned effective March 5, a Northern Trust spokesman said. Michael Hunstad, senior vice president and director of quantitative research, will assume Mr. Peron's duties.

CN Rochdale currently manages $37 billion in assets, mostly for high-net-worth investors. Northern Trust Asset Management had a total of $1.2 trillion in AUM as of Dec. 31.