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A wave of management changes at Korean-American banks highlights the difficulties of filling key posts in a niche banking industry.
October 8 -
BBCN Bancorp (BBCN) in Los Angeles has hired a senior manager at HSBC to become its first chief retail banking officer.
December 13 -
Soo Bong Min, the president and chief executive of BBCN Bank in Los Angeles, has stepped down after less than a year on the job.
January 16
When BBCN Bancorp (BBCN) decided to add a new member to its board, the Los Angeles company didn't waste its time with an amateur.
Instead the $6.5 billion-asset company appointed David Malone, a Southern California community banker who helped his last institution post consistent profitability even during the economic downturn. Kevin Kim, chairman and chief executive of BBCN, described Malone as one of the "most accomplished bankers in Southern California" who will be "valuable addition" to its board.
Malone, 63, served as president and CEO of the $3.4 billion-asset Community Bank in Pasadena, Calif., from 2008 to 2013. He also served as chairman in 2013 and as chief operating officer and chief financial officer from 1998 to 2008.
During his tenure, Community Bank grew to more than $3 billion of assets with 17 offices in five counties. He helped transform the company into a "relationship-oriented community bank, developing a high performing sales culture, introducing new business lines, and expanding the bank's geographical footprint," BBCN said in a press release.
"Having served as CEO, COO and CFO of a multi-billion dollar community bank, David has a well-rounded perspective on key areas such as strategic planning, new business development, branding, product development, personnel development, and performance evaluation and measurement," Kim said in a press release on Tuesday.
Malone had also previously served as CFO for Metrobank and Merchant Bank of California. He began his professional career at Arthur Andersen as a certified public accountant.
Malone will serve on the business risk and compliance, audit and asset/liability committees. With the appointment, BBCN's board expanded from 10 members to 11.
