Banc of California Welcomes Ken McMullen as Treasurer
Banc of California Adds Ken McMullen to Leadership Team
Banc of California, Inc. (NYSE: BANC), a leading player in the banking sector, is thrilled to announce that Ken McMullen has joined the company as Executive Vice President and Treasurer. This strategic move comes as the bank aims to bolster its management team and enhance its treasury functions.
About Ken McMullen's Role
In his new position, McMullen will play a pivotal role in overseeing the entire corporate treasury function of the bank. His responsibilities will encompass managing the bank's corporate investment portfolio effectively. He will supervise the bank's balance sheet while developing robust funding and capital strategies, and also managing interest rate risks and liquidity.
Leadership Perspectives
Jared Wolff, the CEO of Banc of California, expressed his enthusiasm about McMullen's hiring, stating, "Banc of California continues to be a destination for top talent. As we continue to grow, we are attracting experienced professionals who are inspired by our culture and the opportunity to build a valuable franchise for the long term." His statement reflects the bank's ongoing commitment to attracting skilled individuals to ensure sustainable growth.
Ken McMullen's Experience
With over thirty years of experience in financial services, McMullen has an impressive track record. He previously served as Treasurer for BNP Paribas USA, Inc., where he successfully led the bank's treasury unit to support various operations, including retail banking and broker-dealer functions. During his tenure, he implemented significant improvements to ensure compliance with regulations and best practices.
Notable Previous Roles
Prior to his role at BNP Paribas, McMullen was the Executive Vice President and Treasurer at Bank of the West, which was eventually acquired by BNP Paribas. His most recent position was at Varo Bank, where he served as Treasurer; Varo is notable for being the nation’s first fully digital bank.
A Strong Addition to the Team
McMullen's wealth of knowledge and experience make him an excellent addition to Banc of California's team. As CFO Joe Kauder noted, "We are so pleased to have a seasoned professional like Ken join our team as Treasurer. His experience and leadership at a much larger institution will complement and enhance our outstanding Treasury team." His insights will be invaluable as Banc of California continues to grow.
About Banc of California, Inc.
Banc of California, Inc. (NYSE: BANC) is a prominent bank holding company boasting over $35 billion in assets. It serves as the parent company of Banc of California and is recognized as one of the nation’s premier relationship-based business banks. Acting as a pivotal financial partner, Banc of California provides a myriad of banking and treasury management services tailored for small, middle-market, and venture-backed businesses.
As the third-largest bank headquartered in California, Banc of California delivers a comprehensive range of loan and deposit products and services through its expansive network of over 80 full-service branches across California and in nearby states. Additionally, the bank offers innovative payment processing solutions through its subsidiary, Deepstack Technologies, while also engaging the Community Association Management industry with its advanced SmartStreet™ platform.
Beyond its commercial endeavors, Banc of California is committed to fostering growth within local communities. By supporting initiatives that promote financial literacy, job training, small business support, affordable housing, and more, the bank continues to reflect its dedication to social responsibility.
Frequently Asked Questions
What position has Ken McMullen been hired for at Banc of California?
Ken McMullen has been appointed as the Executive Vice President and Treasurer of Banc of California.
What will McMullen oversee in his new role?
McMullen will oversee the bank’s corporate treasury function, balancing investment portfolios, managing risks, and developing funding strategies.
What experience does Ken McMullen bring?
McMullen brings over three decades of experience in financial services, including leadership roles at major banking institutions like BNP Paribas and Varo Bank.
Why is Kenneth McMullen's hiring significant for Banc of California?
His extensive experience in treasury management and compliance enhances the leadership team, aligning with the bank’s growth strategy.
What services does Banc of California offer?
Banc of California provides banking and treasury management services to various businesses, along with loan and deposit products through its branches nationwide.
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