Matthew Wagner — PacWest Bancorp

Chief Executive

THE LATEST: Wagner’s bank made moves to diversify its lending portfolio and broaden its income streams over the last year, including the acquisition of Civic Financial Services from Redondo Beach-based real estate company Wedgewood. PacWest was hit especially hard by the effects of Covid-19 due to significant exposure to areas like construction, land and hotels. It lost $1.24 billion last year, due largely to goodwill impairment charges and higher credit loss provisions stemming from Covid’s impact on its loan portfolio.
BACKGROUND: Wagner’s bank has 70 full-service branches throughout California, as well as a branch in Durham, N.C., and another in Denver. Before joining Pacific Western in 2000, Wagner held similar leadership roles at Western Bancorp from 1996 to 1999. Prior to that, he was executive vice president for U.S. Bancorp in Minneapolis. Wagner is a member of PacWest Bancorp.’s Asset and Liability Management, Risk and Executive committees. He also serves on Pacific Western Bank’s board.
YEARS ON THE LA500: 5
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