Preferred Bank Announces New Chief Risk Officer

Company Overview - Preferred Bank is one of the largest independent commercial banks in California, chartered by the State of California, with deposits insured by the FDIC [3] - The bank operates from its main office in Los Angeles and has twelve full-service branches in California, two branches in New York, and one in Texas [3] - Preferred Bank offers a wide range of deposit and loan products to commercial and consumer customers, focusing on small and mid-sized businesses, entrepreneurs, and high net worth individuals [3] Leadership Change - The Board of Directors has appointed Nick Pi as Executive Vice President and Chief Risk Officer, who has been with the bank since 2015 as Chief Credit Officer [1] - Nick Pi will continue to oversee the credit function while also taking charge of the BSA and Compliance Departments [1] - Li Yu, Chairman and CEO, expressed confidence in Nick's leadership and experience, highlighting the importance of this appointment for enterprise risk oversight [2]