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The unexpected departure of the CEO of the nation's biggest Korean-American bank moves comes just days after rival Hanmi Financial announced plans to sell itself.
January 15 -
BBCN Bancorp (BBCN) in Los Angeles has filled the leadership left open by Alvin Kang's resignation as president and chief executive earlier this year.
March 7 -
Alvin Kang, CEO of BBCN, is said to have resigned after a disagreement with his board. His departure could clear the way for a deal for Hanmi Financial and raises the prospect of industrywide succession fights as banks consolidate.
January 15 -
Hanmi Financial announced Wednesday that it has hired an advisor to help it explore strategic alternatives. Observers say the recovered lender could be a hot ticket, fetching between $16 to $20 per share.
January 10
BBCN Bancorp (BBCN) in Los Angeles has hired a former chief executive of Hanmi Financial (HAFC) and Wilshire Bancorp (WIBC) to lead its bank.
The $5.8 billion-asset company hired Soo Bong Min, 76, as president and CEO of BBCN Bank. Those duties had been handled by an executive committee since
Kevin Kim, a former director of Center Financial,
Min was president and CEO of Hanmi from 1994 to 1999, when he left to lead Wilshire. He retired as Wilshire's CEO in 2007 but remained an advisor until 2009. In 2011 and 2012, he was president and CEO of United Central Bank in Dallas.
"Min is very well recognized in the Korean-American community as a proven banking executive, who was instrumental to the growth and prosperity" of Wilshire and Hanmi, Kim said in a press release. "After an intensive process in which both internal and external candidates were evaluated, the board determined that with his 50-plus years of banking experience, Mr. Min would be the best person to lead BBCN forward at this stage of integration and growth."
Min's appointment could fuel ongoing
