Recent and archived news stories on: banks, credit unions, mortgage lenders, SBA lenders, stocks/bonds, venture capital, wealth management, investment banks, factors, money managers, economic news and financial sector news

Univision to Look for New CEO, Cancels IPO

Spanish-language broadcaster Univision Communications will look for a new chief executive after current CEO Randy Falco announced plans to retire at the end of the year.

Clearlake Capital Closes Fund V with $3.6 Billion

Clearlake Capital Group, the Santa Monica-based investment firm, announced it completed fundraising for its Fund V at $3.6 billion.

WPromote Nabs Shamrock Capital Investment

Shamrock Capital, a Los Angeles-based private equity firm, announced March 13 that it has invested in El Segundo digital marketing company WPromote. Terms of the deal were not disclosed.

Study: L.A.’s Small Businesses Optimistic About Growth

Small businesses across Los Angeles have seen a boost in sales and project continued growth through the end of summer, according to a new survey released March 13

City National Rochdale Hires Matthew Peron as Chief Investment Officer

City National Bank announced March 12 the hiring of Matthew Peron as chief investment officer of its City National Rochdale subsidiary. City National Rochdale, which has headquarters in Beverly Hills and New York, oversees $37 billion in assets of families, individuals and institutions.

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Kor-Am Bank Files for IPO

Open Bank has filed for an IPO, a move that will take the bank from over-the-counter to Nasdaq listing.

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Deals & Dealmakers: New I/D for Fifth Wall

Pritzkers team up with Venice venture firm for $15M Series A

Pritzker Group, Fifth Wall join forces in $15 million Series B round for furniture maker Interior Define.

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L.A. Area Wages Up 0.9 Percent in January

Wages in the Los Angeles area rose a modest 0.9 percent to a median of $60,420 in February from a year ago, according to a survey released March 6 from online job site Glassdoor.

New CEO at L.A. Federal Credit Union

Richard Lie has been appointed president and chief executive of Los Angeles Federal Credit Union.

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Platinum Equity to Pay $520M for Pennsylvania Power Plant

Los Angeles private equity firm Platinum Equity announced Feb. 27 that it has agreed to pay $520 million to buy a Gettysburg, Penn. power plant and related assets out of bankruptcy.

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City National Bank to Expand to Washington D.C.

City National Bank, a Los Angeles-based private bank and subsidiary of the Royal Bank of Canada, has announced plans to add a banking center in Washington, D.C.

CVB Financial to Buy Pasadena’s Community Bank for $878M

Ontario-based CVB Financial Corp. has agreed to buy Pasadena-based Community Bank for $878 million in cash and stock, the two bank institutions announced Feb. 26.

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First Choice Bank to Acquire Parent of Pacific Commerce Bank for $110.4M

First Choice Bancorp of Cerritos, the holding company for First Choice Bank, will acquire the parent company of Pacific Commerce Bank for roughly $110.4 million in stock, the companies announced Feb. 26.

Modest Local Job Growth Trend to Continue This Year and Next: Forecast

Los Angeles County is expected to add about 48,000 jobs this year and 34,000 next year, making for a modest growth rate of around 1 percent, according to a forecast to be released Feb. 21 by the Los Angeles County Economic Development Corp.

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Sole Source Capital Buys Stake in Oil Equipment Supply Co.

Santa Monica private equity firm Sole Source Capital announced Feb. 16 it has purchased a majority interest in Premier Flow Control, an Odessa, Texas-based oil equipment supply company.

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