COSTA MESA, Calif., July 24, 2014 (GLOBE NEWSWIRE) -- Commercial Bank of California, one of the most innovative and highest capitalized business banks in Southern California, today announced that financial services executive Xavier A. Gutierrez has been appointed to its Board of Directors.
Mr. Gutierrez is a nationally respected business executive with extensive experience working with financial services companies and in the institutional capital markets. He is currently the Chief Investment Officer of the Meruelo Group and the President and Chief Investment Officer of Meruelo Investment Partners, the investment affiliate of Meruelo Group. Meruelo Group is a privately-held management company serving a diversified portfolio of affiliated entities with interests in banking and financial services, food services (manufacturing, distribution, and restaurant operations), construction and engineering, hospitality and gaming, real estate management and development, media (television and radio), and public and private equity investing.
Prior to joining Meruelo, Mr. Gutierrez was a Principal & Managing Director with Phoenix Realty Group, an institutional real estate investment management firm. Before that, Gutierrez held positions with Latham & Watkins, Lehman Brothers and the National Football League. He received a Bachelor's degree from Harvard College and his law degree from Stanford Law School. He currently serves on the Board of Directors of the United States Hispanic Chamber of Commerce and on the Board of SIZMEK, Inc (Nasdaq:SZMK), a publicly traded advertising technology firm.
"We are very pleased Xavier Gutierrez has joined the Board of Directors of Commercial Bank of California," said Ash Patel, President and Chief Executive Officer. "Xavier is a visionary entrepreneur who brings an exceptionally diverse range of experience and deep understanding of our key segments. Xavier's experience and perspective working in the institutional capital markets and with minority-owned and entrepreneurial businesses will strengthen our presence in those very important segments of our business."
In addition to Gutierrez, the Board of Directors of Commercial Bank of California is comprised of the following executives: K.P. "Bala" Balkrishna, Chairman of the Board; Ash Patel, President and CEO; Luis Armona, Executive Vice President of Meruelo Enterprises; Frank P. Willey, Vice Chairman of Fidelity National Bank; Alex Meruelo, President and CEO of Meruelo Enterprises; Richard Frankel, President of Lalomana, Inc. and Managing General Partner of Frankel Associates; Paul Folino, who sits on numerous public Board of Directors; and William H. Lyon, CEO of William Lyon Homes.
"I am honored and excited to be working with the incredible board and terrific management and staff at Commercial Bank of California," said Mr. Gutierrez. "Commercial Bank of California is unique in its approach to serving entrepreneurial businesses who want to accelerate their growth with a banking partner that understands and is dedicated to serving their needs. I look forward to contributing to the bank's long-term success."
About Commercial Bank of California
Commercial Bank of California is a full-service community bank headquartered in Costa Mesa, California. Delivering personalized, relationship-based banking, Commercial Bank of California serves dynamic businesses seeking to accelerate their growth. Commercial Bank of California is an FDIC-insured institution and funds deposited in the bank are insured up to the FDIC's insurance limit of $250,000 per depositor. For more information, go to www.cbcal.com.
CONTACT: Rebekah Salgado Senior Director of Marketing & Communications Meruelo Group 310-989-9534Source:Commercial Bank of California(CBC)