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

Green Dot Earnings Top Estimates, Revenues Fall Short

Pasadena-based Green Dot Corp. reported fourth-quarter earnings of $1.7 million, beating analyst estimates, even as earnings for the period dropped 75% year over year.

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CUSTOM CONTENT: Uribe Joins Infogen Labs as Special Advisor

Dr. Betty will help drive innovation!

Dr. Uribe — a member of the Business Journal’s LA500 as one of the most influential people in the Los Angeles business community — will serve as a special advisor to Infogen Labs and plans to focus on her burgeoning Dr. Betty brand, which spans speaking engagements, consulting and philanthropic work.

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Oaktree Capital Blazes a Trail in China

Investment management company establishes distressed debt unit

Oaktree Capital Management has become the first foreign distressed debt company to set up a wholly owned unit in China under the Phase I U.S.-China trade deal.

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Trinity Sells to Citizens Financial

Firm specializes in restaurant industry deals

Trinity Capital, a Brentwood-based boutique investment bank, will be acquired by Rhode Island-based Citizens Financial Group Inc.

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Forecast Sees Modest Growth in County's Economy

Los Angeles County’s economy will continue to see modest growth in 2020, according to a forecast from the Los Angeles County Economic Development Corp.

Union Bank Names New President

Seibly asked to challenge global banks in region

Union Bank, the West Coast retail and commercial banking arm of MUFG Union Bank, has appointed Greg Seibly as president and head of regional banking.

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Brentwood Associates Acquires Parchment Inc.

PE firm buys academic company Parchment

Sawtelle-based private equity firm Brentwood Associates has completed its acquisition of digital academic credentials company Parchment Inc.

Helping Banks Up Their Game

InvestCloud’s tech tools reach younger consumers

Many millennials are simultaneously bored and intimidated by finance. InvestCloud Inc. co-founder Yaela Shamberg is working to change that by building financial software that younger consumers actually want to use.

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East West Posts Record 2019 Revenue

Gain comes despite decline in company’s annual net income

Pasadena-based East West Bancorp Inc. posted a company record $1.7 billion in revenue for 2019, beating analyst expectations.

Gores Group Closes Its Biggest SPAC Yet

Gores Holdings IV tops target with a $425 million IPO

Gores Group has raised its largest initial public offering yet for a special purpose acquisition company, or SPAC, yet.

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BMO Opens First Office in Los Angeles

Bank of Montreal unit will focus on commercial banking

BMO Harris Bank, the U.S. banking arm of one of Canada’s largest financial institutions, has opened its first office in Los Angeles.

LA Businesses Brace for Virus

Tourism, trade could be hurt by outbreak

As a central gateway between China and the United States, experts say L.A. stands to feel an outsized economic impact from the Wuhan coronavirus, the worst disease outbreak in Asia in nearly two decades.

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Fintech Friendly

Banks lean on tech companies to meet customer expectations

Banks the world over are increasingly being held to the same standards as internet giants and nimble fintech startups.

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Ares Makes Major Acquisition in Asia

Private equity firm picks up Hong Kong-based SSG Capital Management

Ares Management Corp. will buy a controlling stake in Asian asset manager SSG Capital Management Ltd.

Dialing Up the Deals

Private Equity: Big money is pouring into LA-based mega-funds

L.A. has seen two private equity raises of $10 billion or more in the last two months, reaffirming the city’s position as a global business center

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