City National Bank, a regional financial institution with extensive connections to the entertainment industry, has joined the relief efforts following the wildfires that ravaged parts of Los Angeles County within the last week.
The bank managed by Howard Hammond, in conjunction with its parent company, the Royal Bank of Canada (RBC), has committed a total of $3 million to various organizations such as the Entertainment Industry Foundation, International Medical Corps, Neighborhood Housing Services Los Angeles County, United Way of Greater Los Angeles, West Los Angeles Community Development Corporation, and several others.
Being headquartered in Los Angeles, the largest bank, this disaster hits home for us profoundly. Our customers, employees, and neighborhoods are experiencing anguish from a destruction that’s hard to fathom,” stated Hammond, our president and CEO. “We understand we have a significant part to play in providing aid during these difficult times as well as supporting the efforts to rebuild in the long term.
The magnitude and ferocity of these fires are unparalleled, and I want to emphasize that you’re not facing this alone – we stand with you, ready to offer support.
As a gamer, I’m blown away by the generosity of some major studios based in the Southland. Disney and Warner Bros. Discovery have stepped up with a massive $15 million pledge for relief efforts, while Amazon, YouTube, Comcast, Netflix, Sony, Paramount Global, and Fox Corp have collectively committed an impressive $40 million! Sony added an extra $5 million to that total. These studios are truly making a difference in our community’s recovery efforts.
The Palisades Fire has scorched over 23,700 acres, while the Eaton Fire in Altadena has ravaged approximately 14,000 acres. Over 12,300 structures have been destroyed according to CalFire. It’s estimated that around two dozen people have lost their lives and AccuWeather predicts the economic damage could be anywhere from $250 billion to $275 billion.
Dave McKay, who is both president and CEO of RBC, remarked about their bank’s donation, “Our sympathies go out to the multitude of families affected, among them our clients, coworkers, and their dear ones, as well as the tireless teams working to combat the fires and offer aid.
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2025-01-16 03:25