The president and chief executive of BBCN Bank in Los Angeles has stepped down after less than a year on the job.
Soo Bong Min, 77, retired from the company effective immediately, the company said in a news release Wednesday. Min joined the $6.3 billion-asset BBCN in April. He had previously served as chief executive of Hanmi Financial (HAFC) and Wilshire Bancorp (WIBC).
"On behalf of the entire board of directors, we extend to Min our sincere and grateful appreciation for his dedicated efforts during his term," Kevin Kim, the chairman and CEO of the bank's holding company, BBCN Bancorp, said in the release. "We congratulate Min on his well-earned retirement, after a distinguished 50-plus year career in the financial services industry."
Kim, 56, will act as interim president and CEO of the bank while the company searches for a permanent replacement. Kim will take on the additional responsibilities with the support of BBCN's newly established Office of the Chairman, a team that includes the company's chief operating officer, Kyu Kim; its chief retail banking officer, Cha Park; Chief Financial Officer Douglas Goddard; and Chief Credit Officer Mark Lee.