Banc of California names Robert Sznewajs as chairman
This follows Steven Sugarman's resignation from his role as Chairman and Chief Executive Officer.
The Board has established an interim "Office of the CEO / President."
The Office of the CEO / President will be composed of Hugh Boyle, Chief Risk Officer, who will additionally assume the title of Interim Chief Executive Officer, and J. Francisco A. Turner, Chief Strategy Officer and Principal Financial Officer.
Mr. Turner will partner with Mr. Boyle and assume the title of Interim Chief Financial Officer and President.
Mr. Sznewajs has been a member of the Banc of California Board of Directors since 2014, serving as Chair of the Joint Audit Committee since 2014.
Mr. Sznewajs has nearly 40 years of experience in financial institutions, including roles serving as President and Chief Executive Officer of West Coast Bancorp; Vice Chair of U.S. Bancorp; President and Chief Operating Officer of BankAmericard; Executive Vice President and Manager of Valley National Bancorp; and President and Chief Executive Officer of Michigan National Bank.
Mr. Sznewajs has served on several boards and executive committees, including the Portland Branch Board of the Federal Reserve Bank of San Francisco.
Mr. Boyle has over 30 years of enterprise risk management and credit, capital markets, and investment banking experience as well as deep consumer and commercial banking and residential mortgage lending experience in both domestic and international markets.
Mr. Boyle's investment banking background includes 16 years in credit risk at Goldman Sachs and Lehman Brothers where he worked closely with financial institutions globally supporting their debt and equity capital market transactions, trading, M&A and strategic and credit rating advisory work.
Mr. Boyle has senior executive experience managing risk and credit at CIBC First Caribbean International Bank, Flagstar Bank and Washington Mutual.
Mr. Turner has over 18 years of experience in investment banking, private equity, corporate finance and mergers and acquisitions, including senior leadership roles at The Bancorp Bank, Transact Network and as an investment professional at Spectrum Equity Investors.
He started his career at Bank of America Robertson Stephens. He also has significant expertise in Financial Institutions Banking, Payments, PacRim and European Banking.