Stories by James
Activist Blackwells agrees to support Barrack’s vision
Downtown-based real estate investment company Colony Capital Inc. and activist investor Blackwells Capital have reached a settlement.
Some contend coronavirus could drive up defaults
Ahead of passage of the federal government’s coronavirus rescue package last week, uncertainty roiled the commercial mortgage market.
Financial technology veteran will also join the board
Pasadena-based Green Dot Corp. has named Dan Henry chief executive and president.
Coronavirus transforms how LA works
Almost overnight, the coronavirus has transformed the way Angelenos work. For many in the VC space, though, keeping up “business as usual” has been relatively straightforward.
Company finds success as ‘Apple of audit software’
Auditboard Inc. has quietly built one of the country’s fastest-growing businesses in a sector famously unwilling to move fast and break things.
Menai and CTBC have a unique view of the region’s challenges — and opportunities
As the U.S. head of one of Taiwan’s largest banks, Noor Menai has unique insight into the local economic impact of major events like the trade war and the coronavirus outbreak.
City National’s Kelly Coffey makes a good first-year impression
Under Kelly Coffey, who joined City National as chief executive in February 2019, the largest bank headquartered in Los Angeles has grown even larger.
Read interviews with L.A.'s top banking professionals and access the latest data in the Los Angeles Business Journal's Banking & Finance Quarterly Special Report.
Companies try to adjust amid disruptions
Across the Los Angeles region, events and industries such as hospitality, health care and logistics are starting to feel the squeeze from the new coronavirus.
Canned water company planning push into brick and mortar
Liquid Death Mountain Water, a Santa Monica-based canned water company, has raised $9 million to make a bigger push into brick-and-mortar retail.
Software firm will use funds for development, expansion
Brace Software Inc., a Santa Monica-based mortgage technology startup, has raised $10 million in a Series A funding round.
Investors include Macerich, Acadia Realty
Marina del Rey-based Fifth Wall Ventures Management has raised $100 million to help online brands grow offline.
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.
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.
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.
PE firm buys academic company Parchment
Sawtelle-based private equity firm Brentwood Associates has completed its acquisition of digital academic credentials company Parchment Inc.
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.
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.
Commerce-based cannabis business ManifestSeven has acquired cannabis delivery service People’s Kush.
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.
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.
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.
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.
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.
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
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.
Cannabis company adds to string of acquisitions
Cannabis logistics company ManifestSeven has acquired San Francisco-based cannabis delivery service Lady Chatterley Health.
Planned three-way merger heads to SEC for review
Century City-based blank check company Diamond Eagle Acquisition Corp. entered into formal SEC review for a three-way merger with DraftKings Inc. and SBTech Ltd.
PE firm’s Provation acquires medical software platform
Provation Medical Inc., a health care software company backed by Santa Monica-based PE firm Clearlake Capital Group, acquired medical reporting software company MD-Reports.
LA sets the pace for new customer experiences
To keep up with changing customer needs, L.A. banks have had to ramp up investment in technology and offer a new kind of customer experience.
Arrowhead, Fulgent drove a strong 2019 for L.A. stocks
Last year was a good one for the stock market, and Los Angeles-area companies rode the wave.
Private equity firm attracts more than 250 investors for latest offering
Beverly Hills-based private equity firm Platinum Equity has raised $10 billion for its latest flagship fund.
Edward Wedbush launched brokerage in 1955
Edward Wedbush, founder of Wedbush Securities Inc., passed away at his home in Rancho Santa Fe.
PE firm was first backer of software developer
Manhattan Beach-based private equity firm K1 Investment Management has sold its stake in property management software company Buildium to RealPage Inc.
Venture capitalists in Los Angeles see opportunities for the year ahead — regardless of the state of the economy.
Los Angeles banking and finance in the year ahead will be shaped by technological innovation, cost-cutting and a possible economic slowdown, local experts predict.
Merger with NY company will create ad tech giant
Playa Vista-based advertising technology company Rubicon Project Inc. will merge with New York-based Telaria Inc. to create what the companies call the world’s largest independent sell-side advertising platform.
Hancock Park-based Westlake Financial Services Inc. and sister company Nowcom Corp. entered into a strategic partnership with Canadian auto finance company Source One Financial Corp.
Entertainment: PE firm Crestview buys in
ICM Partners, the Century City-based talent agency, has sold an ownership stake of roughly one-third to private equity firm Crestview Partners for $150 million.
CEO Streit and CFO leave fintech company
Green Dot Corp. founder and CEO Steve Streit will step down after 20 years at the helm.
RBC Wealth Management U.S. has snapped up a team of L.A.-based financial advisors that manages approximately $7.5 billion in assets.
Century City-based talent agency ICM Partners has sold a significant ownership stake to New York-based Crestview Partners.
Finance: Insurance broker buys HMBD
Long Beach-based HMBD Insurance Services Inc. has been acquired by Chicago-headquartered insurance giant Hub International Ltd.
Finance: Firm closes $12 billion flagship vehicle to pursue large investments
Los Angeles’ largest private equity firm by assets under management, Leonard Green & Partners, has closed two funds totaling $14.75 billion.
Finance: Upfront’s Mark Suster continued to play a leading role among LA’s VCs
Mark Suster, managing partner at Santa Monica-based Upfront Ventures Management Inc., made some big deals in 2019.
Banking: City National Bank Chief Executive Kelly Coffey is making some big moves
On Feb. 1, Coffey became only the fourth chief executive in the 65-year history of City National Bank.
Finance: Beyond Meat, Revolve Group booked seats on this year’s IPO roller coaster
In an uneven year for initial public offerings, Los Angeles companies mirrored the broader market trend in 2019.
Colony Capital Inc., one of L.A.’s largest real estate investment firms, will pay $185 million for a 20% interest in data center provider DataBank.
Camino Financial Inc., a downtown-based fintech online lender focused on the Latino market, has raised $8 million in a Series A funding round.
L.A. is taking its place in the booming fintech space. Read about some of the L.A. startup and venture capital ecosystem players in the Banking and Finance Quarterly special report.