BEVERLY HILLS, Calif., Jan. 29, 2021 /PRNewswire/ -- Today, PacWest Bancorp and Pacific Western Bank announced the first step of a Senior Leadership Transition Plan to be realized over the next three years. The plan involves the retention of Matthew P. Wagner as President and Chief Executive Officer through December 31, 2023, after which it is anticipated that he will transition to the role of Executive Chairman of PacWest Bancorp.
Over the next three years, the Board of Directors, working in concert with Mr. Wagner and the Executive Team, will be working to ensure that there is a smooth transition of leadership to support employees, customers, shareholders and the communities the bank serves.
John Eggemeyer, Chairman of the Board, commented "Matt has built an incredible company from its humble beginnings as a $200 million asset San Diego bank into a $29 billion asset bank doing business nationwide. We believe that the executive team in place can build upon the success of the past 20 years. While we embark on this leadership transition, we remain committed to our core strategies of building relationships with our clients while serving banking needs of our customers and their communities."
About Pacific Western Bank
Pacific Western Bank is a commercial bank with over $29 billion in assets headquartered in Los Angeles, California, with executive offices in Denver, Colorado. The Bank has 70 full-service branches primarily located in California, with one branch located in Durham, North Carolina, and one branch located in Denver, Colorado. The bank provides community banking products including lending and comprehensive deposit and treasury management services to small and medium-sized businesses conducted primarily through our California-based branch offices and Denver, Colorado branch office. The Bank offers national lending products including asset-based, equipment, and real estate loans and treasury management services to established middle-market businesses on a national basis. The Bank also offers venture banking products including a comprehensive suite of financial services focused on entrepreneurial and venture-backed businesses and their venture capital and private equity investors, with offices located in key innovation hubs across the United States. For more information about Pacific Western Bank, visit www.pacwest.com.
Kristen Mboijana | Pacific Western Bank | 301.634.6905 | email@example.com
SOURCE Pacific Western Bank