Banc of California Inc., the holding company for Banc of California, promoted several senior executives effective, while Lynn Sullivan will retire as the company’s executive vice president and chief risk officer at the end of the year. Sullivan will serve as a consultant to the bank for a six-month transition period following her retirement.
“On behalf of the board of directors and the entire Banc of California team, I would like to express my gratitude to Lynn for her invaluable contributions to the bank over the past four years. We wish her every success in her retirement from banking,” Jared Wolff, president and CEO of Banc of California, said. “I am also delighted to share the promotions of four current leaders of our organization in recognition of their exceptional performance. These leaders have and will continue to play instrumental roles in the growth of our company.”
Banc of California specifically promoted John Sotoodeh from chief operating officer of the bank to chief operating officer of the holding company and the bank, Hamid Hussain from president of commercial and real estate banking to president of the bank, Ido Dotan to chief administrative officer of the holding company and the bank and Olivia Lindsay from deputy chief risk officer to chief risk officer of the holding company and the bank upon Sullivan’s retirement. All promotions will take effect on Jan. 1.
In his role as COO of the holding company, Sotoodeh will oversee a range of services across the company, including its operations, technology and payments platforms, along with other strategic initiatives.
In his new role, Hussain will have responsibility for the overall strategy, goals and execution of the bank’s client-facing teams outside its retail branches, expanding its client base and loan and deposit relationships.
Dotan will also continue to serve as general counsel following the promotion. Dotan’s expanded responsibilities will include implementing and facilitating organizational efficiency and coordination across all administrative areas of the bank.
In her new role as chief risk officer, Lindsay will oversee the enterprise risk management organization and have responsibility for the bank’s BSA, AML and overarching risk program.