Koreatown-based Hope Bancorp Inc., the $15.4 billion-in-asset parent of Bank of Hope, has named Kevin Kim as chairman. Kim also serves as chief executive of the bank’s parent company.

Kim succeeds Scott Yoon-Suk Whang, who was appointed lead independent director of the company.

Yoon-Suk Whang said in a statement that Kim’s appointment as chairman will provide a unifying role and the “most effective leadership structure at this time.” He also said Kim’s promotion to chairman will bolster the board’s effectiveness “and more appropriately allocate authority and responsibility between the board and management.”