ECONOMY
Amazon plans to hire more than 3,000 people to work at Inland Empire facilities, news reports said. The online retailer, which recently took applications for a second headquarters, including bids by Irvine and other OC cities, will hold two hiring events this month for the area positions.
— Hannah Mitchell
FINANCE
Former Pacific Investment Management Co. Chief Executive Mohamed El-Erian’s name was being floated as a potential Federal Reserve vice chairman candidate. The former co-chief investment officer of the Newport Beach bond manager was also a deputy director at the International Monetary Fund. He’s currently chief economic adviser at PIMCO parent Allianz and is considered one of the world’s top economists. He would replace Stanley Fischer, who resigned last month.
— Paul Hughes
Irvine-based Opus Bank said it hired a chief financial officer to replace Nicole M. Carrillo. Kevin L. Thompson was named CFO on Nov. 10 to replace Carrillo, who resigned the day before. Carrillo, who will remain a consultant, also resigned from directorship of the Opus Community Foundation and Opus Financial Partners. Thompson had been CFO at Midland States Bancorp since 2016.
— Peter J. Brennan
HEALTHCARE
Irvine-based Modulated Imaging Inc. closed a Series A funding round of about $2.9 million. The company developed a light-based imaging technology that can help doctors identify areas of poor circulation. It said it will use the funds to finish developing a miniaturized version of its Ox-Imager CS device. The Series A round was led by Bellevue, Wash.-based Grey Sky Venture Partners.
— Deirdre Newman
MARKETING
Advantage Solutions Inc. in Irvine plans to merge with Daymon Worldwide Inc. Terms were not disclosed. The deal links two private equity-backed big players in brand and retail sales and marketing. Daymon does sales and marketing of private-label consumer products. Boston-based Bain Capital Private Equity LP in January bought a majority stake in Daymon. Bain will take equity in Advantage Solutions’ holding company and name board members. Daymon will operate as a separate entity.
— Mediha DiMartino
PHILANTHROPY
UCI received a collection of California art from the trust of the late Newport Beach developer Gerald Buck. A division of his Hon Development Co., Foothill Ranch Co., was the major developer of the 2,700-acre portion of Lake Forest. The collection, valued in the tens of millions of dollars, includes classic California Impressionism. Buck amassed more than 3,200 original works but never displayed them publicly beyond lending some to museums. It’s the world’s most comprehensive private collection of California modern art, according to dealers and curators.
— Deirdre Newman
The Association of Fundraising Professionals-OC honored givers at a National Philanthropy Day lunch. Recipients included Charles Antis, owner of Business Journal Civic 50 honoree Antis Roofing and Waterproofing, the midsize winner. Paul Leon and Paul Cho were Outstanding Founders. Other honorees were: Outstanding Youth Grace Cross; Philanthropic Group the Women’s Philanthropy Fund of OC United Way; Volunteer Fundraiser Anne Shih; Small Business Montage Legal Group; Large Business The Capital Group Cos.; and Philanthropists Suzanne and James Mellor. The Business Journal was presenting sponsor of the event.
— Pete Weitzner
Real Estate
Foster City-based investor and developer SteelWave LLC is part of an investment group that paid $65 million for former Los Angeles Times printing plant site in Costa Mesa. The sellers are a partnership between a subsidiary of Tribune Media Co. and L.A.-based developer Kearny Real Estate that planned a creative-office redevelopment of the 24-acre site. Additional ground-up office buildings are planned in future phases.
— Mark Mueller
Technology
Lake Forest-based Toshiba America Business Solutions Inc. acquired an equipment distributor and reseller in Northern California. Financial details of the transaction for Electro Imaging Systems Inc. in Livermore were undisclosed. Electro offers document, network management and managed print services, and sells, services and supports office printing and phone systems. It doesn’t sell Toshiba products.
— Chris Casacchia
