Central Pacific in Hawaii taps director as next CEO

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Central Pacific Financial in Honolulu will soon have a new CEO.

The $5.7 billion-asset company said in a press release Wednesday that Paul Yonamine, one of its directors, will also become its chairman on Oct. 1. He will also become chairman of the Central Pacific Bank unit.

Catherine Ngo, Central Pacific's current CEO, will remain president and CEO of the bank. John Dean, who is the company's chairman, will stay on the board.

Yonamine is executive chairman of GCA Corp., a large M&A advisory investment bank in Japan. His will become GCA's nonexecutive chairman on Oct. 1. He once served as president and country general manager of IBM Japan.

"I am delighted to have invited Paul to take on this position and my recommendation to our board for his appointment was based on recognizing the significant added value he could provide to our organization, especially in the areas of business development, digital transformation and IT strategy," Ngo said in the release.

"We are very fortunate to have someone of Paul's caliber joining our team with his leadership, vision, and understanding of our local market," Ngo added.

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