Transitioning Leadership for Future Success
RBB Bancorp is excited to announce a strategic transition in its leadership as the company prepares for a new chapter. Beginning January 1, 2025, Mr. Johnny Lee will assume the role of President of RBB Bancorp. Alongside this, he will also take on the responsibilities of President and Chief Executive Officer of Royal Business Bank. With a strong background in financial services, Mr. Lee is well-equipped to lead the organization into the future.
Mr. Lee's Impressive Background
Having joined RBB Bancorp in 2023, Mr. Lee comes with over 35 years of experience in banking. His previous role as Senior Managing Director at East West Bank demonstrated his capability in managing significant banking operations. He held various senior positions at East West Bank, showing expertise in international and commercial banking, as well as venture lending. His broad experience positions him as an exceptional leader for the company's continued success.
Resignation of Mr. David Morris
As part of this transition, Mr. David Morris will step down from his current position as Chief Executive Officer of the Bank and President of the Company effective January 1, 2025. He is committed to continuing his service as CEO until May 21, 2025, after which he will leave day-to-day responsibilities. Mr. Morris's guidance over the last 15 years played a significant role in the company's growth, and the board is grateful for his dedicated service.
Recognition of Mr. Morris’s Contributions
Christina Kao, Chair of the Board of Directors, expressed the board's gratitude, highlighting Mr. Morris’s strategic efforts that facilitated substantial growth within the company. She emphasized that the appointment of Mr. Lee as President and eventually CEO under a well-prepared succession plan is an exciting step forward for RBB Bancorp.
Mr. Lee's Vision for RBB Bancorp
Upon his appointment, Mr. Lee shared his enthusiasm about joining the dedicated Royal Business Bank team. He believes the company is well-positioned for continued success while maintaining a strong commitment to serving the Asian American community and Asian-centric businesses across its operational areas.
Leadership Changes in the Bank
In additional executive changes, Mr. Mina Rizkalla will transition from his role as Senior Vice President to become Executive Vice President and Chief Risk Officer for RBB Bancorp. This move reflects the company's strategy to reinforce its risk management framework under Mr. Lee's leadership.
Company Overview and Services
RBB Bancorp, headquartered in Los Angeles, is a community-focused financial holding company that provides essential banking services. The company reported total assets of $4.0 billion as of September 30, 2024. The primary subsidiary, Royal Business Bank, offers consumer and business banking predominantly targeting the Asian community. Its services encompass various financial solutions, including mobile banking, commercial loans, and wealth management services.
Branch Network and Operations
Royal Business Bank operates multiple branches across California and beyond, ensuring accessibility for its clients. With a focus on delivering customized services, RBB Bancorp continues to expand its footprint in diverse markets, reinforcing its commitment to branch banking.
Frequently Asked Questions
1. Who is the new CEO of RBB Bancorp?
Mr. Johnny Lee will be the new CEO of RBB Bancorp, officially taking over on May 22, 2025.
2. What leadership roles will Mr. Morris retain?
Mr. David Morris will remain on the Boards of Directors of both RBB Bancorp and Royal Business Bank after his retirement.
3. What is RBB Bancorp's main focus area?
RBB Bancorp focuses on serving the Asian community and Asian-centric businesses through its banking services.
4. How will Mr. Lee contribute to the company’s growth?
With his extensive banking experience, Mr. Lee aims to enhance the company’s performance and stakeholder value.
5. What changes are happening on the management team?
Mr. Mina Rizkalla will become Executive Vice President and Chief Risk Officer, reinforcing the leadership team at RBB Bancorp.
