Iris S. Chan and Paul H. Irving Appointed to Board of Directors of East West Bancorp and East West Bank
April 22 2010 - 2:30PM
Business Wire
East West Bancorp, Inc. (Nasdaq: EWBC), parent company of East
West Bank, one of the nation's premier regional banks, appointed
Iris S. Chan and Paul H. Irving to its Board of Directors. Ms.
Chan and Mr. Irving were also appointed to the Board of
Directors of East West Bank.
"We are pleased that Ms. Chan and Mr. Irving have accepted this
opportunity to join the East West family," said Dominic Ng,
Chairman and Chief Executive Officer of East West. "Iris and Paul
each bring to our Board a deep and diverse understanding of the
financial services industry. We look forward to their guidance and
influence as we expand our commercial banking platform to serve new
markets domestically and abroad," continued Ng.
Ms. Chan spent over 20 years with Wells Fargo Bank in San
Francisco and recently retired as the Head of the National
Commercial Banking Group which serves middle market businesses
across the United States. As group head, she oversaw more than 90
commercial banking and loan production offices throughout the
country and was in charge of industry specialty groups including
government, education, non-profit, healthcare, technology, and
waste and environmental management. Additionally, Ms. Chan oversaw
the National Correspondent Banking Group and Treasury Sales. She
served on the Board of Directors of Wells Fargo HSBC Trade Bank
from 2003 to 2009 and was the national spokesperson for the Wells
Fargo Asian Business Service Program for more than a decade. Ms.
Chan currently serves on the Board of Directors of the Asia Society
and was twice named one of the "25 Most Powerful Women in Banking"
by U.S. Banker Magazine.
Mr. Irving is an Advanced Leadership Fellow at Harvard
University. He previously served as Co-Chairman, Chief Executive
and Managing Partner of Manatt, Phelps & Phillips, LLP and
remains a Senior Advisor to the firm. In his 25 years with the
firm, Mr. Irving represented financial services, manufacturing,
media and entertainment and professional services clients in
mergers and acquisitions, capital markets activities, and
governance and regulatory matters. He also served on the firm's
Board of Directors and as Chairman of the financial services group,
compensation committee and recruiting committee. Mr. Irving
previously served as an Adjunct Professor at Loyola Law School, Los
Angeles, was recognized by The Best Lawyers in America for more
than ten years and was named a California Super Lawyer by Los
Angeles Magazine.
About East West
East West Bancorp is a publicly owned company with $20.6 billion
in assets and is traded on the Nasdaq Global Select Market under
the symbol "EWBC". The Company's wholly owned subsidiary, East West
Bank, is one of the largest independent commercial banks
headquartered in California with more than 130 locations worldwide,
including the U.S. markets of California, New York, Georgia,
Massachusetts, Texas and Washington. In Greater China, East West's
presence includes a full service branch in Hong Kong and
representative offices in Beijing, Shanghai, Shenzhen and Taipei.
Through a wholly-owned subsidiary bank, East West's presence in
Greater China also includes full service branches in Shanghai and
Shantou and representative offices in Beijing and Guangzhou. For
more information on East West Bancorp, visit the Company's website
at www.eastwestbank.com.
Forward-Looking Statements
This release may contain forward-looking statements, which are
included in accordance with the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995 and accordingly,
the cautionary statements contained in East West Bancorp's Annual
Report on Form 10-K for the year ended Dec. 31, 2009 (See Item I --
Business, and Item 7 -- Management's Discussion and Analysis of
Consolidated Financial Condition and Results of Operations), and
other filings with the Securities and Exchange Commission are
incorporated herein by reference. These factors include, but are
not limited to: the effect of interest rate and currency exchange
fluctuations; competition in the financial services market for both
deposits and loans; EWBC's ability to efficiently incorporate
acquisitions into its operations; the ability of borrowers to
perform as required under the terms of their loans; effect of
additional provisions for loan losses; effect of any goodwill
impairment, the ability of EWBC and its subsidiaries to increase
its customer base; the effect of regulatory and legislative action,
including California tax legislation and an announcement by the
state's Franchise Tax Board regarding the taxation of Registered
Investment Companies; and regional and general economic conditions.
Actual results and performance in future periods may be materially
different from any future results or performance suggested by the
forward-looking statements in this release. Such forward-looking
statements speak only as of the date of this release. East West
expressly disclaims any obligation to update or revise any
forward-looking statements found herein to reflect any changes in
the Bank's expectations of results or any change in event.
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