Private Bancorp of America and CalPrivate Bank President and CEO Rick Sowers announced Mag Wangsuwana was appointed Executive Vice President and Chief Financial Officer of both the company and bank.

“Mag is a proven finance and accounting professional with strong strategic acumen. He is a proven leader who possesses the skills to help us get to the next level and continue our growth trajectory. We are excited to have him join the team,” Sowers said. “We would also like to thank Richard Pimentel for his many contributions over the past years, and wish him all the best.”

Wangsuwana brings with him over 25 years of financial services experience. Prior to joining the company and bank, he most recently served as Chief Financial Officer of First Choice Bank. During his career, Wangsuwana has held various management positions at commercial banks and investment banks.

“I am very excited about the opportunities for CalPrivate and am confident in the strategic vision for the company,” said Wangsuwana. “The bank’s leadership team is strong and I am excited to work with them to help achieve that shared vision.”