Juliet once asked, “What’s in a name?” If you were to ask Jared Wolff, “Where is a name?” he will point to the top of 865 S. Figueroa St. downtown.
The 35-story tower, which now boasts the name of Banc of California festooned upon the north and south sides of its crown, played host to the grand opening of the bank’s new office last week. Wolff joined dignitaries such as L.A. Mayor Karen Bass and Los Angeles County Economic Development Corp. Chief Executive Stephen Cheung for a ribbon cutting of the 40,000-square-foot outpost, which occupies the 34th floor, last week.
It was a moment billed as the latest step to righting the ship downtown and paving the way for a bolstered workforce and vibrant community that calls the city center home.
“As California’s business bank, this office puts our team in the heart of one of the country’s most important business centers and closer to the clients driving the region forward,” Wolff said in a statement. “We’re committed to strengthening downtown and supporting local businesses, driving economic growth and creating opportunity for years to come.”
The Banc of California team at this new downtown location will include those in commercial, middle market and venture banking, as well as global treasury management and corporate functions. The 11-year lease was announced not quite a year ago.
The move bolsters Banc of California’s investment in L.A. as its new home. Having acquired what was then-Pacific Western Bank in Beverly Hills during the 2023 banking crisis, Banc of California then relocated from its Orange County home to Brentwood. Since then, the institution has donated $1 million to L.A.’s contract financing program, which assists small businesses in competing for public contracts and also played a role in financial assistance in the wake of the January 2025 wildfires.
Bass, fighting in a competitive reelection campaign for mayor, used to moment to hail Banc of California as the latest investor in downtown’s revitalization.
“Today’s grand opening of Banc of California’s new Downtown Los Angeles office is another major step we’re taking to restore Downtown Los Angeles as a vibrant hub of economic, cultural and civic life,” she said.
