PacWest Bancorp in Beverly Hills, Calif., has formed a national tax-exempt-lending group after hiring a pair of lenders.
The $21 billion-asset company said in a press release Tuesday that it had hired Christopher Baron to lead its efforts in the government sector. Baron previously was a managing director of public finance at MUFG Union Bank.
Daniel Bronfman, previously the founder and president of Growth Capital Associates, will handle expansion into the nonprofit sector. Growth Capital was an advisory firm that specialized in handling tax-exempt and taxable financings for nonprofits and businesses in the manufacturing and recycling sectors.
Forming the new group “is consistent with our commitment to serve the communities in which we operate, while also providing a new avenue for growth in asset classes that meet … our credit and return requirements,” Matthew Wagner, PacWest’s president and CEO, said in the release.