First Foundation has shuffled its management ranks for the second time in less than a month.
The $12.3 billion-asset company said in a press release that Scott Kavanaugh, its CEO, had taken on the role. He succeeded Kevin Thompson, who stepped down as chief financial officer and interim president.
Amy Djou, First Foundation’s chief accounting officer, was named interim CFO while the company begins to search for a permanent replacement.
Thompson was named interim president in early November when David DePillo stepped down.
“Enhancing Scott’s position to include the role of president is the most suitable, long-term transition for the organization,” Max Briggs, First Foundation’s lead independent director, said in the release.
“The board has complete confidence that he is the right choice to assume this role and execute against the commitments we have made to reduce expenses and slow loan growth while continuing to deliver excellent service to our clients,” Briggs added.