Bank of Marin begins search for next CEO

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Bank of Marin Bancorp in Novato, Calif., is looking for a new president and CEO.

The $2.5 billion-asset company disclosed in a regulatory filing Thursday that it has hired the executive search firm Korn Ferry to find a successor for Russell Colombo.

Bank of Marin said Colombo, who has been its president and CEO since July 2006, will retire. No timeline has been set for his retirement, it said.

Colombo, who was 66 when Bank of Marin filed its proxy statement earlier this year, joined the company in 2004 as its branch administrator. He became chief operating officer in July 2005. His career includes stints at Comerica and Union Bank of California.

The company had less than $900 million in assets when Colombo became president and CEO.

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