Banc of California hired Matthew Grimes for the new position of senior vice president and asset-based lending leader. In this position, Grimes will report to Hamid Hussain, president of real estate and commercial banking for Banc of California.

“We are excited to have Matthew join Banc of California,” Hussain said. “Asset-based lending is an important business line for Banc of California. Matthew’s deep experience and leadership will help us expand this segment and further add to the capabilities of Banc of California to help our clients succeed financially.”

“I am very excited to join the Banc of California team and lead the ABL group,” Grimes said. “Senior management is committed to supporting the growth of the ABL platform as we continue to move up market and expand our portfolio. We look forward to serving companies in manufacturing, distribution, business services and retail in the small and medium-sized enterprise segments. I look forward to building on Banc of California’s successful track record of providing expertise, service and solutions with a first class ABL group that contributes to our clients’ and the bank’s financial success.”

Grimes has more than 25 years of direct lending experience in ABL and has held senior level positions at Eclipse Business Capital (formerly known as Encina Business Credit), Ares Management and First Capital, among others.