Imperial Bancorp, Los Angeles, shifted its chief financial officer, Robert M. Franko, to the presidency of its new spinoff company, Imperial Financial Group.
The spinoff includes the Lewis Horowitz Organization, a specialty entertainment lending unit; Imperial Bank's small-business lending division; Imperial Trust Co., a California-licensed trust company, and Imperial Credit Industries Inc., its diversified specialty finance company.
George L. Graziadio, Imperial Bancorp's chairman, president, and CEO, also became chairman of the spinoff.
Succeeding Mr. Franko at Imperial Financial is Christine M. McCarthy. She was hired as executive vice president and chief financial officer of the holding company and its principal subsidiary, Imperial Bank.
Ms. McCarthy had been an executive vice president in the finance division at First Interstate Bancorp until its sale to Wells Fargo & Co. She oversaw the investor-relations department.