Banc of California, Inc. announced that Robert D. Sznewajs, current chair of the joint audit committee of the board of directors, will assume the role of chairman of the board. The board is undertaking a search to identify the best internal or external candidate to lead the company. This follows Steven Sugarman's resignation from his role as chairman and chief executive officer.

While the board undertakes its comprehensive executive search, it has established an interim office of the CEO /president. The office of the CEO /president will be composed of Hugh Boyle, chief risk officer, who will additionally assume the title of interim chief executive officer, and J. Francisco A. Turner, chief strategy officer and principal financial officer. Mr. Turner will partner with Mr. Boyle and assume the title of interim chief financial officer and president.