Cathay General to have new CEO in October

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Cathay General Bancorp in Los Angeles will soon have a new CEO.

The $19 billion-asset company said in a press release Friday that Chang Liu will also become its president and join the board on Oct. 1. Liu, president and CEO of Cathay Bank, joined the company in 2014.

Before joining Cathay, Liu was the chief lending officer at Pacific Trust Bank. He has also worked at U.S. Bank and California National Bank.

Liu will succeed Pin Tai, who will remain an executive adviser to the company until September 2021. Tai, who was 66 when Cathay General filed its proxy statment in April, has been with the company since 1999.

"I am incredibly proud of the Company that we have built and believe Chang is the right person to lead us into the next chapter,” Tai said in the release. “I am confident that Cathay's legacy of unwavering commitment to deliver exceptional customer experience and stockholder value will continue under his leadership."

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