Cathay General Bancorp Announces Leadership Change in Risk Management

Cathay General Bancorp Announces Leadership Changes

Cathay General Bancorp (Nasdaq: CATY) has recently made headlines with an important leadership transition. The company, which serves as the holding entity for Cathay Bank, has announced the retirement of its Chief Risk Officer, Mr. Kim R. Bingham. His retirement is set to take effect on January 21, 2025. While Mr. Bingham won't serve as a designated executive officer going forward, he will remain involved as Executive Vice President, taking on the role of Special Advisor to the Office of the President during a transitional phase, expected to last until around March 31, 2025.

Appointment of New Chief Risk Officer

Following Mr. Bingham's retirement, Ms. Diana Deen will step into the role of Executive Vice President and Chief Risk Officer. Her appointment is also effective on January 21, 2025, and she will be designated as an executive officer of Cathay Bank. This transition marks a significant shift in the leadership of Cathay Bank as it continues to focus on risk management and compliance.

Diana Deen’s Extensive Banking Background

Diana Deen brings with her over 20 years of robust banking experience, specifically in risk management and compliance sectors. Throughout her career, she has held numerous leadership positions, reflecting her adeptness in both management and strategy. Most recently, she worked with Bank of the West, which is now a part of Bank of Montreal, from 2018 to 2023. During her tenure there, she served as Executive Vice President, overseeing Operational Risk for the Basel Operational Risk Program and later was appointed Chief Ethics and Conduct Officer in 2022.

Previous Roles and Experience

Before her stint at Bank of the West, Ms. Deen spent several years at Wells Fargo, serving as Executive Vice President responsible for International Risk Oversight, and prior to that, held a key position at JPMorgan Chase. At JPMorgan, she was the Managing Director and oversaw Compliance Strategy, Technology, and Operations on a global scale, reflecting her ability to manage complex organizational structures and compliance requirements.

About Cathay General Bancorp

Cathay General Bancorp (Nasdaq: CATY) is a significant player in the banking landscape, being the holding company for Cathay Bank, which is a California chartered bank offering a variety of financial services. The roots of this institution stretch back to its founding in 1962, and since then, it has expanded operations, boasting over 60 branches across various states including California, New York, and Texas, among others. Moreover, it extends its services globally through its branch in Hong Kong and representative offices located in key Asian cities such as Beijing, Shanghai, and Taipei.

Commitment to Customer Service and Growth

As part of its vision, Cathay Bank continuously endeavors to provide superior financial services, catering to the diverse needs of its clients. For those interested in knowing more about the bank's offerings or its evolution over the years, Cathay General Bancorp’s website provides comprehensive information.

Frequently Asked Questions

What is the reason for Kim R. Bingham's retirement?

Kim R. Bingham is retiring from his position as Chief Risk Officer to transition to a role as Special Advisor, focusing on a smoother changeover.

Who will succeed Mr. Bingham?

Ms. Diana Deen will be taking over the role of Chief Risk Officer at Cathay Bank.

What experience does Diana Deen bring to her new position?

Diana Deen has over 20 years of banking experience, with significant roles in risk management, compliance, and operational strategies.

When is the new appointment effective?

Diana Deen's appointment as Chief Risk Officer will take effect on January 21, 2025.

What services does Cathay Bank provide?

Cathay Bank offers a wide range of financial services, operating over 60 branches across the United States and serving a diverse clientele.

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