City National Bank, Los Angeles, hired Empower Retirement as record keeper of its profit sharing plan.
The transition to Empower Retirement was effective March 1, according to the June 28 11-K filing from the bank's parent, Royal Bank of Canada.
Empower Retirement replaced OneAmerica Retirement Services, according to the filing. A reason for the change was not provided.
As of Dec. 31, the City National Bank Profit Sharing Plan had $1.3 billion in assets, according to the 11-K filing.
City National Bank officials could not be immediately reached for further information.
