The Money Book: Li Yu

The Money Book: Li Yu

Preferred Bank

Chairman, Chief Executive

Years with firm: 25

Assets under management: $3.2 billion

Li Yu is founder of Preferred Bank and has served as its chief executive since 1993. From 1982 to 1987, he served as chairman of California Pacific National Bank. He received his MBA from UCLA. He has been president of the National Association of Chinese American Bankers and a board member of UCLA’s Anderson Graduate School of Management.

Recent transactions: The November 2015 acquisition of United International Bank in Flushing, N.Y., a $180 million asset bank focusing on the Chinese-American market. Purchase price was approximately $22 million, or 1.06 times tangible book value. All integration work was completed in the first quarter of 2016.

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