IRVINE, Calif.--(BUSINESS WIRE)--Opus Bank (“Opus” or the “Bank”) announced today that Tom Bowers, Chief Operating Officer of Starwood Capital Group, has been appointed to the Opus’ Board of Directors, effective June 23, 2016, and appointed a member of the Compensation Committee and Nominating and Corporate Governance Committee. Mr. Bowers replaces Marcos Alvarado, formerly Senior Vice President and Managing Director of Starwood Capital Group, who concurrently resigned from Opus’ Board of Directors, effective June 23, 2016. Opus’ board membership remains at nine.
Stephen H. Gordon, Founding Chairman, Chief Executive Officer and President of Opus Bank, stated, “Marcos has been an outstanding member of Opus’ Board of Directors. His considerable contributions have been instrumental in the growth of Opus since joining the board early in the Bank’s infancy. On behalf of Opus, I thank Marcos for his years of commitment.” Gordon added, “We are excited to have Tom Bowers join Opus’ Board of Directors. I have no doubt that his depth and breadth of knowledge and experience will be of immediate benefit, and that his transition will be smooth and seamless as Opus continues to expand and grow.”
Tom Bowers serves as Managing Director and Chief Operating Officer of Starwood Capital Group (“Starwood”). In this role, Mr. Bowers is responsible for driving Starwood’s priority strategic initiatives and enhancing the operational effectiveness of Starwood’s public and private operating companies and entities. He serves on Starwood’s Executive and Investment Committees, and is a Trustee of Colony Starwood Homes (NYSE: SFR), a Starwood Capital affiliate that is one of the largest publicly traded investors, owners, and operators of single-family homes in the nation. Mr. Bowers previously served as Head of Corporate Strategy and Development at Starwood. Prior to joining Starwood in 2015, Mr. Bowers was Co-Head of Asset and Wealth Management-Americas at Deutsche Bank, where he was responsible for managing the U.S. and Latin American wealth management businesses, and had joint responsibility for the integration of Deutsche Bank’s wealth and institutional asset management businesses in the Americas. In this role, Mr. Bowers was a board member of Deutsche Bank Securities. Mr. Bowers previously held a number of senior roles at Citigroup Private Bank, including Global Chief Operating Officer; Head of Strategy and Corporate Development; COO-Europe, Middle East and Africa; COO-U.S.; and Head of Banking and Structured Lending. Mr. Bowers holds a B.S. degree in Business Administration from the Boston University School of Management, and a J.D. and LL.M. (Taxation) from Boston University School of Law.
About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with $6.9 billion of total assets, $5.8 billion of total loans, and $5.2 billion in total deposits as of March 31, 2016. Opus Bank provides high-value, relationship-based banking products, services, and solutions 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, technology, 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. Opus Bank’s subsidiary, PENSCO Trust Company, is a leading tech-enabled alternative asset IRA custodian with approximately $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 58 banking offices, including 33 in California, 22 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.
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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.