Banc of California named former Square 1 Bank president Doug Bowers president, CEO and a director of the board following a nationwide search with the assistance of Korn Ferry.

Bowers has also been appointed president and CEO of the company’s subsidiary, Banc of California, and will join its board.

Bowers was president and CEO of Square 1 Bank from 2011 until its sale to PacWest Bancorp in 2015. He previously held roles at Lone Star/Hudson Advisors, a 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.”

Hugh Boyle will return to his role as CRO and Francisco Turner will remain in his role as interim chief financial officer, chief strategy officer and principal financial officer.

Santa Ana, CA-based Banc of California operates 37 offices in the state.