FINANCE
Irvine-based Sunwest Bank hired Ben Alvarado, Wells Fargo & Co.’s former head of operations for the retail branch network in Orange County and San Diego, as an executive vice president in charge of retail and business banking. The 26-year banking veteran began his career at Wells Fargo, where he most recently oversaw OC and San Diego branches.
— Peter J. Brennan
MANUFACTURING
Anaheim-based Bedrosians Tile and Stone named Diana Kelly president and chief operating officer. She was previously regional vice president at Home Depot Inc. Bedrosians, founded in 1948, has more than 40 U.S. branches and plans to open seven locations this year.
— Peter J. Brennan
MARKETING
Marketing firm The Shipyard named David Sonderman chief creative officer. He previously served as chief creative officer at Ohio-based healthcare communications agency GSW. The 25-year industry veteran has worked on campaigns for brands such as Apple and Victoria’s Secret. Shipyard is headquartered in Newport Beach and Columbus, Ohio.
— Subrina Hudson
Jared Rowe was named director, president and chief executive of Irvine-based marketing firm AutoWeb Inc. to succeed former chief executive Jeffrey Coats. Rowe has more than 20 years of experience in the automotive and marketing industries and served as AutoWeb’s manager of strategic business development in 1998.
— Subrina Hudson
REAL ESTATE
Auction.com named Min Alexander chief operations officer, replacing Javid Jaberi, who the company said is retiring. The online marketplace for distressed real estate is part of Irvine-based Ten-X LLC, which through other divisions also sells standard residential and commercial properties online. Alexander will lead about 800 workers, a press release said. She was most recently a senior vice president with Luxembourg-based real estate services provider Altisource.
— Paul Hughes
RETAIL
Indianapolis-based Simon Property Group Inc. plans to redevelop the vacant Sears store at Brea Mall. The shopping center will add a three-story, 120,000-square-foot Life Time Athletic fitness center; Simon’s plans also include a residential element, and new entertainment, restaurants and retail offerings. Simon bought the 50% interest it didn’t yet own in the 168,000-square-foot Brea Sears in November for a reported $68 million, according to CoStar.
— Subrina Hudson
SPORTS
The value of the Los Angeles Angels of Anaheim rose 3% in the past year to $1.8 billion, according to Forbes’ latest annual estimates. The franchise held its No. 8 ranking from a year ago, when it was valued at $1.75 billion. The market, home to 13.1 million residents, accounted for nearly 46% of the team’s value. The Angels generate annual revenue of $334 million and operating income of $25 million, Forbes said.
— Chris Casacchia
TECHNOLOGY
Irvine-based AutoGravity said it will work with Westbon Inc., which runs a lending platform for international students in the U.S. The company’s smartphone application connects car buyers with lenders and dealers. Chicago-based Westbon targets international students, saying they’re underserved because of a lack of credit history and Social Security number.
— Peter J. Brennan
TRANSPORTATION
Charter airline JetSuite Inc. plans to move its headquarters from Irvine to Dallas as part of growing scheduled charter division JetSuiteX. Alex Wilcox, chief executive of both companies, said 90% of JetSuite’s 300 employees will stay in OC but that he and the company’s C-suite should move to Texas by September. Also relocating are corporate staff, such as finance, IT, sales and marketing.” Meanwhile, Qatar Airways invested in JetSuite, and JetBlue Airways increased its stake in the carrier on undisclosed terms. The companies said the funds will fuel JetSuiteX.
— Paul Hughes
