Cathay General Bancorp in Los Angeles has given some executives important additional duties.
The $11.5 billion-asset company appointed Pin Tai president of its banking unit, according to a filing with the Securities and Exchange Commission on Friday. He is taking that job off the hands of Chairman and Chief Executive Dunson Cheng, who will retain his other titles.
Tai started working at Cathay in 1999 as general manager of the New York region, which under his leadership opened nine branches. Tai became chief lending officer in 2013, and he has been an executive vice president for the last nine years.
The company also named Irwin Wong to the newly created position of chief operating officer. Wong, who will also join the board of directors, keeps his current responsibilities as chief retail administration and regulatory affairs officer. He has held several jobs at Cathay since joining the company in 1998, including chief risk officer from 2011 to 2013.
All executive changes will take effect on April 1.