IRVINE, Calif.--(BUSINESS WIRE)--Opus Bank (“Opus” or the “Bank”) (NASDAQ: OPB) announced today that Brian Fitzmaurice has joined Opus as Senior Executive Vice President, Senior Chief Credit Officer and has been appointed to Opus’ Executive Committee. Mr. Fitzmaurice is a 33-year banking veteran with extensive experience in credit and risk management, including overseeing credit policy, credit administration, and special assets. Mr. Fitzmaurice joins Opus most recently from City National Bank, a subsidiary of Royal Bank of Canada (“RBC”), where he served as Executive Vice President and Chief Credit Officer since February 2006.
Stephen H. Gordon, founding Chairman, Chief Executive Officer, and President of Opus Bank, stated, “We are excited to welcome Brian to Opus as Senior Chief Credit Officer and member of our senior executive team. Given Brian’s disciplined credit risk management background and experience at some of the nation’s leading financial institutions, and in many of the same lines of business as Opus, including commercial and multifamily real estate and Commercial and Specialty Banking, I look forward to partnering with Brian and to the addition of his leadership on the credit side of the house.” Gordon added, “In combination with the recently announced addition of new senior talent and the promotions of key Opus executives, we anticipate that Brian will immediately have a positive impact on the credit risk management culture, as well as the continuing growth and maturation of Opus.”
Brian Fitzmaurice, Senior Executive Vice President, Senior Chief Credit Officer, commented, “Having held Opus Bank in high regard since its founding, I am thrilled to bring my experience to bear at this stage in its development. I look forward to working to create and build value for our shareholders.” Fitzmaurice continued, “I am confident that together we will continue to leverage and extend the Opus Bank mission to financially support those companies and real estate investors with a vision to expand and grow in our attractive West Coast metro markets.”
Mr. Fitzmaurice joins the Bank most recently from City National Bank, a subsidiary of Royal Bank of Canada (“RBC”), where he served as Executive Vice President and Chief Credit Officer since February 2006. During his tenure at City National Bank, he was a member of the Executive, ALCO, Credit Policy, and Enterprise Risk Management Committees, as well as the Chief Risk Office’s Operating, U.S. Credit Risk, and U.S. Operational Committees of City National Bank’s parent, Royal Bank of Canada. From 2002 to 2006, Mr. Fitzmaurice served as National Senior Risk Manager for Citigroup’s Commercial Markets Group. From 1998 to 2002, Mr. Fitzmaurice served as Senior Credit Officer Commercial Banking at CalFed, prior to its acquisition by Citigroup in 2002. From 1991 to 1998, Mr. Fitzmaurice served with Michigan National Bank, a subsidiary of National Australia Bank, rising to the position Head of Credit Bureau, a title equivalent to Chief Credit Officer. Mr. Fitzmaurice started his career with Bank of America in 1983, and subsequently held management level credit positions with Citicorp, Inc.; Merabank, FSB; and Westinghouse Credit Corporation. Mr. Fitzmaurice holds a Bachelor of Science degree in Business Administration with an emphasis in Marketing from Northern Arizona University.
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About Opus Bank
Opus Bank is an FDIC-insured California-chartered commercial bank with $7.7 billion of total assets, $6.3 billion of total loans and $6.5 billion in total deposits as of September 30, 2016. Opus Bank provides superior ideas and solutions, and banking products to its clients through its Retail Bank, Commercial Bank, Merchant Bank, and Correspondent Bank. Opus Bank offers a suite of treasury and cash management and depository solutions and a wide range of loan products, including commercial, healthcare, media and entertainment, corporate finance, multifamily residential, commercial real estate, and structured finance, and is an SBA preferred lender. Opus Bank offers commercial escrow services and facilitates 1031 Exchange transactions through its Escrow and Exchange divisions. Opus Bank provides clients with financial and advisory services related to raising equity capital, targeted acquisition and divestiture strategies, general mergers and acquisitions, debt and equity financing, balance sheet restructuring, valuation, strategy, and performance improvement through its Merchant Banking Division and its broker-dealer subsidiary, Opus Financial Partners, LLC. Opus Bank’s subsidiary, PENSCO Trust Company, is a leading tech-enabled alternative asset IRA custodian with over $12 billion of custodial assets and over 48,000 client accounts, which are comprised of self-directed investors, financial institutions, capital raisers, and financial advisors. Opus Bank operates 56 banking offices, including 32 in California, 21 in the Seattle/Puget Sound region in Washington, two in the Phoenix metropolitan area of Arizona, and one in Portland, Oregon. Opus Bank is an Equal Housing Lender. For additional information about Opus Bank, please visit our website: www.opusbank.com.
This release may include forward-looking statements related to Opus’ plans, beliefs and goals, which involve certain risks, and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. The forward-looking information presented in this press release is not a guarantee of future events, and actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “intend” or “expect” or variations thereon or similar terminology. All such statements speak only as of the date made, and Opus undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.