PacWest lines up successor to its CEO

PacWest Bancorp in Los Angeles will soon have a new president.

The $39 billion-asset company said in a press release Monday that Paul Taylor will take on the role on July 1. Taylor joined the PacWest board in January 2021; he is a member of the asset/liability management and risk committees.

Taylor will succeed Matthew Wagner, who will remain CEO until his expected retirement at the end of 2023. Wagner would still serve as chairman. 

PacWest said it “is anticipated” that Taylor will succeed Wagner as CEO when he retires. 

“I have known Paul both personally and professionally for over two decades. I have great respect for him as a leader with strategic vision and acumen,” Wagner said in the release. 

"I look forward to working with him as he steps into this role … and am confident he will quickly add value because of his strong experience and knowledge of our organization,” Wagner added. 

Taylor, who was president and CEO of Opus Bank from 2019 to 2020, will work out of the company’s Denver office. He was president and CEO of Guaranty Bancorp before joining Opus.