Life Financial Corp. in Riverside, Calif., said Monday that board member Robert K. Riley will take over as president and chief executive officer.

He succeeds Daniel L. Perl, who was dismissed last Wednesday for unspecified reasons. Mr. Riley, who has been on Life Financial's board since 1997, is to resign as president and CEO of Rainer Capital Corp. of Bellevue, Wash., for the bank post.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.