California BanCorp in Oakland, Calif., has a new president.
The $1.9 billion-asset company said in a press release Monday that Thomas Sa was also named president of its bank, effective immediately. Sa will remain the company’s chief financial officer and chief operating officer.
Sa succeeded Steven Shelton, who remains CEO.
The move “reflects the growth of the company and the management structure we believe is best suited to continue effectively executing on the strategies that are enhancing the value of our franchise,” Shelton said in the release.
“As president, [Sa] will have an even greater opportunity to make a positive impact across all areas of the organization, including overseeing the development of new business lines and processes that we believe will provide additional catalysts for our future growth while further diversifying our business mix,” Shelton added.
Sa joined the company in May 2019. He previously served as chief risk officer at Western Alliance Bancorp.