PacWest adds former Chase exec to its board

PacWest Bancorp in Beverly Hills, Calif., has added a banking veteran to its board. 

The $39 billion-asset company disclosed in a regulatory filing that Stephanie Mudick became a director on Aug. 1 after a recommendation from its compensation, nominating and governance committee. 

Mudick, who also serves on the board of The Bancorp, was head of regulatory strategy at JPMorgan Chase from 2008 to 2018. PacWest plans to put her on its risk committee and the compensation, nominating and governance committee. 

Separately, the company said Robert Stine will step down from the board on Dec. 31 after he failed to receive a majority of shareholder votes for reelection at last spring’s annual meeting.

PacWest disclosed in May that 50.2% of voting shares rejected Stine’s reelection. He tendered his resignation on May 11, subject to board acceptance. 

The board decided to postpone his departure, citing his tenure on the board, his past and expected board contributions and his “important leadership role” helping identify the company’s next CEO. 

PacWest announced in June that Paul Taylor would succeed Matt Wagner as its president. Taylor took over the post on July 1 and it is expected that he will replace Wagner as CEO at the end of the year.