PRESS RELEASE Contact: D. Linn Wiley
For Immediate Release President & CEO
CVB Financial Corp. Establishes
A Financial Advisory Services Group
Ontario, CA-November 1, 2005 -(CVBF:NASDAQ) D. Linn Wiley, President and Chief Executive Officer of CVB Financial Corp. and its principal subsidiary, Citizens Business Bank announced the formation of the Financial Advisory Services Group. This group, managed by R. Scott Racusin, Executive Vice President, will include the Personal and Institutional Trust Groups, Asset Management Group, Personal and Institutional Investment & Brokerage Groups and the Wealth Management Group.
Mr. Wiley also announced the promotion of John R. (Jack) Gurley to the position of Chief Investment Officer. “Jack brings forty-seven years of successful investment management to the Financial Advisory Services Group at Citizens Business Bank. Under his direction, the Asset Management Group has outperformed the Standard & Poor's 500 Index for the past one year and three, five and 10-year periods. During this time his department was recognized as a "top money manager" by Nelson Information, a firm that tabulates investment performance of money managers worldwide.”
Mr. Racusin commented that, “This group will provide the integrated financial and estate planning advice that our clients need so that they can remain focused on their families and businesses. We will then oversee the process and coordinate the implementation of a sound strategy through our experts in trust, investments, tax, credit, real estate, and insurance." The Financial Advisory Services Group has over $2.5 billion in assets under administration.
Financial Corp., with $5.0 billion in assets, operates Citizens Business Bank. It
serves 34 cities with 40 business financial centers in the Inland Empire,
Shares of CVB Financial Corp. common stock are listed on the NASDAQ under the ticker symbol of CVBF. For more information, please visit our website at www.cbbank.com.