Banc of California hired Jagdeep Singh Sahota as chief payments officer. Sahota has more than 20 years of experience in the payments space and previously held senior leadership positions at NMI, JPMorgan Chase, Visa, Salesforce and PayPal. He has eight U.S. patents and 23 global patent application filings to his name.
In this newly created role, Sahota will report to John Sotoodeh, Banc of California’s chief operating officer, and be responsible for the development and oversight of the bank’s strategic initiatives in payments, both its direct investment as well as related strategic partnerships. Through these initiatives, Banc of California will continue to augment the value-added services it provides to its business clients while also serving a broader cross section of the payments ecosystem, including payment service providers, payment facilitators, ISOs and merchants.
“We are very excited to welcome Jagdeep to the Banc of California family, particularly as payments have become a key area of growth for us,” Sotoodeh said. “His decades of experience in the payments space will help Banc of California continue to offer its clients a variety of industry-leading and innovative solutions, enable us to expand our existing suite of payments capabilities and, most importantly, allow our clients to run their businesses more profitably and efficiently.”
“Joining Banc of California was an easy decision for me,” Sahota said. “Not only have they quickly become the go-to business bank in the region by providing a superior client experience, but they understand the important role innovation plays and are unafraid to look for ways they can use technology on behalf of their clients. I look forward to continuing and enhancing these efforts in my new role.”