The Private Bank of California Announces the Retirement of Charles D. Kenny as Chief Executive Officer, and Appointment of Steven D. Broidy as Interim CEO

Business Wire,  May 14, 2008  

• E-mail
• Print
• Link

LOS ANGELES -- The Board of Directors of The Private Bank of California (OTCBB:PBCA) announced today that Mr. Charles D. Kenny, Chief Executive Officer, retired effective Monday, May 12, 2008. Mr. Kenny will be succeeded by Mr. Steven D. Broidy, who will become Interim Chief Executive Officer, in addition to his role as Chairman of the Board. The Board also announced the establishment of a Search Committee which has begun the process to hire a new Chief Executive Officer. Mr. Kenny will continue to be employed as a consultant to the Bank and will be available to assist Mr. Broidy and the Board during this transition.

Mr. Kenny has served as the Bank's Chief Executive Officer with distinction through its organization period and since it opened for business on October 24, 2005. Mr. Kenny said: "It has been a great pleasure, along with the Bank's management team, staff, and Board of Directors, to establish the Bank and grow it to the current point of about $200,000,000 in assets. I plan on assisting in this transition in any way that will help the Bank's continuing development. I am particularly pleased that I will be succeeded on an interim basis by Steve Broidy. I have worked with Steve, a former vice chairman and board member of City National Bank, for many years and, as the Bank's Executive Chairman, he has been heavily involved in the Bank's progress from our very first day of business."

Mr. Broidy said: "Charlie has done an outstanding job in the development of the Bank and he will be missed by his fellow directors and our entire staff. We are pleased that he will be available to us to help in this important transition."

The Private Bank of California, headquartered in Century City, is a California-chartered commercial relationship Bank providing a wide range of financial services, including credit and deposit products and cash management. The Bank's clients include high-net worth and high-income individuals, business professionals and their professional service firms, business owners, entertainment service businesses, local businesses, and non-profit organizations. Additional information about the bank is available at www.tpboc.com.

COPYRIGHT 2008 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning