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Banc of California Names New CEO

Banc of California Inc., the second largest bank based in Orange County, named Jared Wolff as chief executive officer, replacing Doug Bowers, effective March 18.

Shares of the Santa Ana-based bank (NYSE: BANC) today dropped 9.3% to $15.66 and a $792 million market cap.

Bowers’ tenure is ending almost two years after he took over the troubled bank, which he has been restructuring. During that time, shares of the Santa Ana-based bank fell about 20%. Bowers also resigned as a director, effective March 18.

Wolff, who will also become a director, has been working at City National Bank as general counsel, managing City National’s Legal and Corporate Administrative Group.

From 2002 through 2014, he served in multiple roles at PacWest Bancorp and its subsidiary bank, Pacific Western Bank, including as president and a director of Pacific Western Bank. Wolff led more than 20 acquisitions, including PacWest’s $2.3 billion purchase of CapitalSource in 2013.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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