Sanwa Bank California has promoted its chief investment officer to executive vice president.

Richard A. Weiss heads investment management for the Eureka Funds, Sanwa's no-load proprietary fund family.

There are five funds, with $800 million of assets under management.

Sanwa focuses on selling its proprietary funds through asset allocation products it developed. The $8.6 billion-asset bank may consider letting platform bankers sell the funds, said Howard Gould, the vice chairman who heads community and retail banking.

Mr. Weiss, who was a senior vice president, reports to Becky C. Shelton, the new head of Sanwa's wealth management unit. Sanwa is a subsidiary of Sanwa Bank Ltd. in Osaka, Japan. -- Cheryl Winokur

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.