Preferred Bank Announces New Chief Risk Officer
Preferred Bank (NASDAQ: PFBC), a major independent commercial bank in California, has appointed Nick Pi as Executive Vice President and Chief Risk Officer. Pi, who has served as the Bank's Chief Credit Officer since 2015, will maintain his oversight of the credit function while expanding his responsibilities to include supervision of the BSA and Compliance Departments. Chairman and CEO Li Yu emphasized Pi's strong leadership in Credit Administration and views this appointment as a significant step in enhancing the bank's enterprise risk oversight.
Preferred Bank (NASDAQ: PFBC), una delle principali banche commerciali indipendenti in California, ha nominato Nick Pi Vice Presidente Esecutivo e Chief Risk Officer. Pi, che ricopre il ruolo di Chief Credit Officer dal 2015, continuerà a supervisionare la funzione credito ampliando le sue responsabilità anche alla supervisione dei dipartimenti BSA e Compliance. Il Presidente e CEO Li Yu ha sottolineato la forte leadership di Pi nell'Amministrazione del Credito, definendo questa nomina un passo importante per migliorare la gestione del rischio aziendale della banca.
Preferred Bank (NASDAQ: PFBC), un importante banco comercial independiente en California, ha designado a Nick Pi como Vicepresidente Ejecutivo y Director de Riesgos. Pi, quien ha desempeñado el cargo de Director de Crédito desde 2015, mantendrá su supervisión sobre la función de crédito mientras amplía sus responsabilidades para incluir la supervisión de los departamentos BSA y de Cumplimiento. El presidente y CEO Li Yu destacó el sólido liderazgo de Pi en la Administración de Créditos y considera este nombramiento un paso significativo para fortalecer la supervisión del riesgo empresarial del banco.
Preferred Bank (NASDAQ: PFBC)는 캘리포니아의 주요 독립 상업은행으로, Nick Pi를 전무이사 겸 최고위험관리책임자(CRO)로 임명했습니다. 2015년부터 은행의 최고신용책임자(CCO)를 맡아온 Pi는 신용 기능에 대한 감독을 유지하는 동시에 BSA 및 컴플라이언스 부서에 대한 감독 책임도 확대할 예정입니다. 회장 겸 CEO인 Li Yu는 Pi의 신용 관리 분야에서의 강력한 리더십을 강조하며, 이번 임명이 은행의 전사적 위험 관리 강화에 중요한 진전이라고 평가했습니다.
Preferred Bank (NASDAQ : PFBC), une importante banque commerciale indépendante en Californie, a nommé Nick Pi au poste de vice-président exécutif et directeur des risques. Pi, qui occupe la fonction de directeur du crédit depuis 2015, continuera à superviser la fonction crédit tout en étendant ses responsabilités à la supervision des départements BSA et conformité. Le président-directeur général Li Yu a souligné le leadership solide de Pi dans l'administration du crédit et considère cette nomination comme une étape importante pour renforcer la supervision des risques de l'entreprise.
Preferred Bank (NASDAQ: PFBC), eine bedeutende unabhängige Geschäftsbank in Kalifornien, hat Nick Pi zum Executive Vice President und Chief Risk Officer ernannt. Pi, der seit 2015 als Chief Credit Officer der Bank tätig ist, wird seine Aufsicht über die Kreditfunktion beibehalten und seine Verantwortlichkeiten auf die Überwachung der BSA- und Compliance-Abteilungen ausweiten. Vorsitzender und CEO Li Yu betonte Pis starke Führung im Kreditmanagement und sieht diese Ernennung als wichtigen Schritt zur Verbesserung der unternehmensweiten Risikokontrolle der Bank.
- Promotion from within indicates strong internal talent pipeline and succession planning
- Consolidation of risk-related functions under experienced leadership could improve risk management efficiency
- Expanded role leverages existing credit expertise while broadening enterprise risk oversight
- None.
LOS ANGELES, May 09, 2025 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the largest independent commercial banks in California, today reported that the Board of Directors has named Nick Pi to the position of Executive Vice President and Chief Risk Officer. Mr. Pi has served as the Bank’s Chief Credit Officer since 2015 and will continue to oversee the credit function. Mr. Pi will now also oversee the BSA and Compliance Departments as well.
Li Yu, Chairman and CEO of the Bank said “Nick has been a very strong leader in Credit Administration and we’re excited to have someone with his experience and knowledge taking over the role of Chief Risk Officer. We feel this is an important step in developing our enterprise risk oversight. Please join me in congratulating Nick”.
About Preferred Bank
Preferred Bank is one of the larger independent commercial banks headquartered in California. The Bank is chartered by the State of California, and its deposits are insured by the Federal Deposit Insurance Corporation, or FDIC, to the maximum extent permitted by law. The Bank conducts its banking business from its main office in Los Angeles, California, and through twelve full-service branch banking offices in the California cities of Alhambra, Century City, City of Industry, Torrance, Arcadia, Irvine (2 branches), Diamond Bar, Pico Rivera, Tarzana and San Francisco (2 branches) and two branches in New York (Flushing and Manhattan) and one branch in the Houston suburb of Sugar Land, Texas. Additionally, the Bank operates a Loan Production Office in Sunnyvale, California. Preferred Bank offers a broad range of deposit and loan products and services to both commercial and consumer customers. The Bank provides personalized deposit services as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses, entrepreneurs, real estate developers, professionals and high net worth individuals. Although originally founded as a Chinese-American Bank, Preferred Bank now derives most of its customers from the diversified mainstream market but does continue to benefit from the significant migration to California of ethnic Chinese from China and other areas of East Asia.
| AT THE COMPANY: | AT FINANCIAL PROFILES: |
| Edward J. Czajka | Jeffrey Haas |
| Executive Vice President | General Information |
| Chief Financial Officer | (310) 622-8240 |
| (213) 891-1188 | PFBC@finprofiles.com |
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