McDermott + Bull has placed Mag Wangsuwana as Chief Financial Officer at CalPrivate Bank. Reporting to the company’s CEO, Mag will lead and manage the full accounting and finance function, including financial planning and analysis, financial reporting operations, accounting and control, treasury/cash management, tax, and capital expenditures. He will initially be tasked with the evaluation of the bank’s investment policy and capital allocation strategy to investments.
Mag joins CalPrivate from First Choice Bank (NASDAQ: FCBP) which recently merged into Missouri-based Enterprise Bank & Trust. He served as the Chief Financial Officer of First Choice since 2019 and played an integral role in the bank’s merger. He built the foundation of his career as an investment banker at Lehman Brothers and then spent 17 years with Union Bank before stepping into community banking. He earned his bachelor’s degree from University of California, Berkeley, and he is a graduate of the Pacific Coast Banking School.
Private Bancorp of America, Inc. (OTCQX: PBAM), is the holding company for CalPrivate Bank. CalPrivate Bank provides a distinct banking experience through unparalleled service and creative funding solutions to high-net-worth individuals, professionals, locally owned businesses, and real estate entrepreneurs. Customers are serviced through offices in Coronado, San Diego, La Jolla, Newport Beach, El Segundo, and Beverly Hills, as well as efficient electronic banking offerings. The bank also offers various portfolio and government guaranteed lending programs, including SBA and cross-border Export-Import Bank programs. CalPrivate Bank is an SBA Preferred Lender and a Bauer Financial 5 star rated bank.