Jason Russek, West Florida Market President, City National Bank of Florida

In an interview with Invest:, Jason Russek, West Florida market president for City National Bank of Florida, highlighted a transformative year for the bank in Tampa Bay, driven by team-building and strategic growth. Looking ahead, the bank plans to expand its range of services including commercial and corporate banking, private banking and wealth management, and commercial real estate lending to support the region’s economic momentum.

What were the key milestones or highlights for City National Bank in Tampa Bay from the past year?

This past year was transformative for City National Bank in Tampa Bay. The team and I joined midyear, in June, and it marked a significant transition for us and the organization. I describe it as transformative because we focused heavily on building our team and fostering a strong sense of cohesion. Many of us have worked together at various institutions over the years, which allowed us to quickly create a collaborative and dynamic environment.

While I emphasize the importance of people, I also don’t want to overlook the strong results we achieved, particularly in the second half of the year. City National Bank of Florida was already performing well, but we contributed to that momentum. We were especially active in financing multifamily housing developments, supporting commercial-industrial projects, and providing loans to local businesses. These efforts aim to fuel growth within the region while leveraging the current capacity of our team. We’re also planning for additional growth next year as we expand our headcount.

What are your immediate priorities as a new leader for City National’s team?

When joining any organization, the first step is understanding where everything stands. For me, the initial focus was internal. I assessed our clients, financials, including the balance sheet and P&L, and identified the region’s strengths and weaknesses.

Building relationships within the team was equally critical. About half of the team came in with us, while the other half was already part of City National Bank. It was vital to integrate these two groups and foster unity. Over the first 90 days, we focused on aligning the team, understanding our client base, and identifying areas for improvement.

After those initial 90 days, our focus shifted outward. The next phase emphasized revenue generation and growing our client base. We analyzed existing client relationships to identify gaps where we could add value. If there were services clients were obtaining elsewhere, we worked to see how we could meet those needs more effectively.

Another priority during this phase was telling our story. It wasn’t just about promoting City National Bank as a brand but also connecting our team members’ personal brands with the organization. This helped us create visibility and credibility in the Tampa Bay community.

What makes Tampa Bay an ideal location for business expansion, relocation, or starting a new business?

Tampa Bay’s robust, dynamic economy and accessibility make it ideal for growth. The region is not geographically constrained, allowing for north, south, and eastward expansion. Continuous migration fuels both business and residential development.

The area also supports entrepreneurs, with a history of talent branching out from major corporations to start their own ventures. Tampa boasts a diverse array of innovative businesses, including niche industries like defense contractors, which are globally distinctive.

Additionally, Tampa Bay offers an outstanding quality of life, with excellent schools, housing, sports teams, and cultural amenities, making it a fantastic place to live and work.

How is the growth and influx of people into Tampa Bay contributing to City National Bank’s success, and where do you see the most opportunities? 

Private equity in Tampa Bay has grown significantly, with many funds moving their headquarters here. Ten years ago, these groups often operated remotely, but today, they’re running core businesses from the region. Currently, over 100 private equity groups manage funds ranging from $100 million to over $1 billion, and many are creating new funds annually due to high demand. We partner with these groups to support business expansions, real estate investments, and regional economic growth.

On the business side, we’re expanding commercial banking with a focus on debt solutions, treasury management, and operational enhancements. We’re also growing our commercial real estate team and targeting mid-sized businesses in manufacturing, healthcare, aviation, and defense contracting.

Tampa Bay’s trajectory is extraordinary, and we’re excited to contribute to its continued success.

Where are you looking to expand City National Bank’s services in the Tampa Bay market?

Tampa Bay is a key growth market for City National Bank. Over the next 36 months, we’ll expand retail and small-business banking by opening branches and hiring bankers to support smaller businesses generating under $5 million in annual revenue.

In private banking and wealth management, we’re targeting early-stage wealth builders — business owners whose ventures are maturing and generating liquidity. These clients fit our niche, allowing us to form strong relationships and grow alongside them.

On the business side, we’re expanding commercial banking, focusing on debt solutions, treasury management, and operational enhancements. We’re also growing our commercial real estate team, continuing to build on an already strong portfolio.

Industry-wise, we’re targeting mid-sized businesses ($25 million to $250 million in revenue) in manufacturing, healthcare, aviation, and defense contracting. Tampa’s vibrant restaurant scene is another area of focus, with many successful regional concepts presenting unique opportunities for commercial and wealth banking.

What is your assessment of the talent pool in Tampa Bay, and what strategies are you using to attract, retain, and develop talent within your organization?

Tampa Bay’s talent pool is strong, particularly in commercial real estate and corporate banking. However, building a team requires balance. Developing all teammates into critical contributors is just as important.

City National Bank excels in education and development, helping talented individuals grow into high performers. Our team-oriented approach ensures collaboration at every level, providing employees with support and guidance.

In retail banking, we face the challenge of building a new team from scratch. We’re leveraging lessons from Orlando and South Florida to integrate new hires into the broader organization. Private banking and wealth management recruitment will also require us to build trust in the Tampa market.

City National Bank is a people-driven organization, operating on the principle that satisfied employees lead to happy clients, which in turn leads to happy shareholders. This philosophy shapes our culture and drives our focus on recruitment, retention, and development.

We emphasize recognizing, rewarding, and incentivizing our team members while offering competitive benefits. These efforts have earned us accolades like “Best Bank to Work For” and “Great Place to Work.” Events like our end-of-year celebration further foster community and reinforce our commitment to our people.

How is technology aiding these transformations and enhancing the services you provide to your clients?

Technology has revolutionized banking, and at City National Bank, we use it to empower employees and enhance the client relationship. Tools are in place to ensure customer-facing staff have seamless access to information, reducing inefficiencies and enabling quick resolutions.

Our investments in technology simplify processes and allow us to adapt quickly to client needs. For example, when a client recently required a new product, we analyzed the case, approved licensing, and implemented the solution within days.

Unlike many banks, we don’t use technology to reduce client contact. Instead, we use it to offer clients flexibility. We are still making local decisions and maintaining direct contact with our clients, but technology allows them to interact with us however they prefer, whether it’s via an app, text, or directly with their banker. This balance between high-tech and high-touch service is a core differentiator for us.