Banc of California, Inc. announced that its Board of Directors has appointed Doug Bowers as President, Chief Executive Officer, effective May 8, 2017, and a director of the Board. Bowers' appointment follows a nationwide search by the Board's Nominating and Corporate Governance Committee with the assistance of Korn Ferry, a nationally recognized executive search agency. Bowers has also been appointed as President and Chief Executive Officer of the company's subsidiary, Banc of California, N.A., and as a member of its Board.

Bowers is a veteran banking executive with over 35 years of banking experience, including his most recent role as President and Chief Executive Officer of Square 1 Bank from 2011 until its sale to PacWest Bancorp in 2015. He previously held roles at Lone Star/Hudson Advisors, a leading private equity firm, and at Bank of America, where he spent nearly 30 years managing various divisions including commercial banking, corporate banking, leasing and specialized products.

Robert D. Sznewajs, Chairman of the Board, said, "We are pleased to welcome Doug to Banc of California. The Board conducted an extensive search and is confident Mr. Bowers has the right banking expertise and leadership skills to lead the Company. His industry experience, operational know-how and commitment to community values will be invaluable in continuing our mission. Under Doug's guidance and with the assistance of our broader executive team and employees, we believe the bank is well positioned to capitalize on growth opportunities and enhance shareholder value."

Bowers said, "I look forward to leading this team of talented bankers and see great opportunities for the bank as it optimizes its focus on commercial banking and continues to grow scalable products and solutions for California's businesses and entrepreneurs. I am eager to begin work with our Board, senior management and employees as we plan and execute the path forward on behalf of all of our stakeholders."

Sznewajs added, "The Board and I want to thank Hugh Boyle, Fran Turner and the many other senior leaders who stepped up and demonstrated skillful leadership over the past several months. Both Hugh and Fran in particular showed a relentless focus on enhancing the business and played an integral role in ensuring the smooth stewardship of the bank during this interim period."

Hugh Boyle will return to his role as Chief Risk Officer and Francisco Turner will remain in his role as Interim Chief Financial Officer, Chief Strategy Officer and Principal Financial Officer.