Irene Oh has been the executive vice president and chief financial officer of East West Bank in Pasadena, California, since 2010. She is one of the few Asian American women, as well as one of the youngest women, to be the CFO of a publicly traded American bank. Under her leadership, the bank's total assets grew from $20 billion to $61 billion as of the end of 2021.
East West Bank's philosophy, Oh said, had at its core a mission to address discrimination and bias. "This mission has informed the bank's practice of elevating women, especially women of color, to leadership roles," she said. "Women and people of color are well represented in our management team, across our workforce and on our board of directors."
Oh joined East West in 2004. Among her achievements as CFO has been creating a business case model that helps ensure all strategies, products and services at the bank are informed by data and analysis. This model has been a key factor in improving the bank's cash management services and boosting its commercial deposits, which is why assets have grown so significantly over the past decade.
Oh also led East West to record revenue and earnings in 2021. In that year alone, total assets grew by 17% — or $8.7 billion. Additionally, the bank's total loans reached a record $41.7 billion, growing by $4.3 billion over the previous year. The bank's net interest income went from $396 million in 2020 to $406 million by the end of last year.
Oh's outside leadership roles include serving on the board of the United Way of Greater Los Angeles, which works to combat poverty in Los Angeles. She is now audit committee chair. Under Oh's leadership, East West Bank has consistently exceeded its fundraising goals for UWGLA, earning the Spirit of Los Angeles and Model Campaign of the Year awards.
"My hope … is that I will no longer be one of the few women executives of color in the room," Oh said, "and that one day that there will only be one list: Most Powerful Banker."
