Los Angeles-based Imperial Bancorp has named Johannes Worsoe senior vice president and manager of foreign exchange trading.
Mr. Worsoe, who will be based in Redondo Beach, will report to Peter Knudson, senior vice president and general manager of the bank's international division. Before joining $3.3 billion-asset Imperial in 1994, Mr. Worsoe had managed foreign exchange for National Bank of Long Beach, Calif.
Imperial serves mainly middle-market companies active in the manufacturing and distribution, health care, biotechnology, entertainment, and apparel and textile industries. It offers cash management, merchant card processing, international trade and foreign exchange, and trust and custodial services.
The Export-Import Bank of the United States, which guarantees loans to promote U.S. exports, recently allowed Imperial independently to approve trade-related loans as large as $3.5 million to U.S. exporters. Imperial is one of a dozen California banks with similar power, which significantly cuts the turnaround time needed to issue such loans.