SAN MATEO, Calif. Bay View Capital Corp. named a veteran turnaround specialist Wednesday as its president and chief executive officer.
Robert B. Goldstein, 60, succeeded Edward H. Sondker, who announced his retirement Feb. 14. Mr. Sondker had served as president and CEO of the $5.4 billion-asset holding company for Bay View Bank since August 1995.
Mr. Goldsteins first task will be to manage a rights offering that Bay View hopes will raise as much as $137.5 million of new capital.
On Feb. 14 Bay View posted a loss of $325.9 million for last year, more than $313.3 million of which resulted from the failure of its Franchise Mortgage Acceptance Corp., which was closed on Sept. 11.
Bay View is the third company to hire Mr. Goldstein as CEO. He presided over the sale of the other two, Jeffbanks Inc. and Regent Bancshares both of Philadelphia to bigger companies.