Luther Burbank in Santa Rosa, Calif., has a new CEO lined up.
The $4.9 billion-asset parent of Luther Burbank Savings said in a press release Monday that Simone Lagomarsino will also succeed John Biggs as president when he retires on Jan. 2. Lagomarsino will join Luther Burbank's board.
Biggs, who was 62 when the company filed its proxy statement in April, will also step down from the board. Biggs, who will have an advisory role through the end of next year, has been the company's president and CEO since 2007.
“I would like to thank John for his invaluable contributions,” Victor Trione, the company's chairman, said in the release. “Under his leadership, we have seen the company’s assets and equity more than double, we have seen our market area grow to include all of ... California and, more recently, Washington and Oregon, and we navigated a successful IPO.”
Lagomarsino, one of American Banker’s
“I am thrilled to join Luther Burbank ... and I look forward to working with Mr. Trione, the other board members, and the talented team that John has assembled,” Lagomarsino said in the release.
Separately, Pacific Premier disclosed in a regulatory filing that Lagomarsino had resigned from its board, effective Nov. 30.
