Cathay General Bancorp announced that Dunson K. Cheng wants to retire from his position as president and CEO of the company and as CEO of Cathay Bank from September 30, 2016.
Cathay General Bancorp CEO Dunson K. Cheng to retireStaff Writer | Los Angeles, Ca., USA | Monday August 22, 2016 5:27AM ET
READ MOREMr. Cheng will continue as Executive Chairman of the Company and of Cathay Bank. He has led the Company and Cathay Bank for more than 30 years.
Mr. Cheng became a Director of Cathay Bank in 1982 and has been a Director of the Company since it was formed as a bank holding company in 1990. He joined the management team at Cathay Bank in 1984 and was named President in 1985.
Mr. Chenghas been the President of the Company since 1990, Chairman of the Boards of the Company and Cathay Bank since 1994, CEO of the Company and Cathay Bank since 2003, and President of Cathay Bank from 1985 until April 2015, when Pin Tai assumed the position of President of Cathay Bank.
The Boards of Directors of the Company and of Cathay Bank appointed Pin Tai as CEO and President of the Company and as CEO of Cathay Bank.
Mr. Tai has been President and a Director of Cathay Bank since April 1, 2015. He joined Cathay Bank in 1999 as General Manager of New York Region.
In 2006, he became Executive Vice President and the General Manager of Eastern Regions, and then became the Deputy Chief Lending Officer in 2010 and the Chief Lending Officer of Cathay Bank in 2013. Mr. Tai has over 34 years of banking experience.
Prior to joining Cathay Bank, he worked at the Bank of China in its New York office and at Bank of America in Hong Kong and China. ■