INVESTMENT: Montreal’s Fiera steps into market by acquiring Bel Air.
The firm is still called Bel Air Investment Advisors, and it’s still based in Century City. But the private wealth management firm is now owned by a Canadian company that hopes to use Bel Air to start building its presence in the United States.
CONSTRUCTION: Shares rise after Fed announces it will continue program.
Investors come knocking for homebuilders’ stock after Fed continues bond-buying program.
Banking & Finance Quarterly
Lenders bank on a variety of ways to satisfy the Community Reinvestment Act’s requirement to support poor communities.
FINANCING: Core looks to cut into lines at payday lenders.
A. Arjan Schütte sees money to be made in saving poor customers from very high-cost lenders.
Pasadena’s East West Bancorp. said Wednesday that it will acquire a Houston bank holding company in a $273 million deal.
Bank makes unusual loans for citizenship applications
Pan American Bank is lending money to immigrants to cover the cost of their citizenship applications. And if that wasn’t odd enough, the bank is making money by doing it.
LENDING: Recent deal vaults value of Broadway’s shares with investors.
Broadway Financial’s recapitalization pays off with increased investor interest.
EXPANSION: Hanmi joins L.A. rivals in setting up outpost in Dallas.
Koreatown lender Hanmi Bank recently opened a loan production office in Dallas, its second location outside of Southern California.
ENERGY: Coda offshoot to adapt technology for vehicle-charging station.
Car-charging station deal could rev up interest in battery technology from failed auto maker Coda.
Veteran banker Alvin Kang has joined the board of Korean-American lender Commonwealth Business Bank, the bank announced Friday.
Beer: Firestone Walker sees operation as mainly market research facility.
Firestone Walker brewery is pouring itself into a new dining and beer-making operation in Venice, which it will use to test market new brews.
Broadway Financial Corp., the Mid-Wilshire parent of Broadway Federal Bank, has announced it completed a long-planned recapitalization.
Manufacturing: Nova hopes to leave over the counter for bigger board.
Shares of Commerce furniture manufacturer Nova Lifestyle Inc. could soon be traded on Nasdaq.
Walter Diamond, co-founder of local appliance and hardware retailer Snyder Diamond, has died of complications of lymphoma. He was 85.
Gordon Gregory, founder of Sherman Oaks investment bank Mosaic Capital LLC and co-founder of professional networking group ProVisors, has died of complications from cancer. He was 59.
Local lenders sink their money into mergers in their own industry.
MANUFACTURING: Jakks shares fall despite buy-up by Patrick Soon-Shiong.
Billionaire Patrick Soon-Shiong bought toymaker Jakks’ stock as it was skidding.
GROWTH: Eric Holoman and Antonio Villaraigosa to help crack market.
Irvine bank holding company Banc of California is raising its profile in Los Angeles, adding two big local names to its corporate ranks in the past two weeks.
Koreatown bank BBCN Bancorp reported better-than-expected revenue and earnings for the second quarter and increased its dividend.
Century City’s PacWest Bancorp announced a blockbuster deal, disclosing plans to buy CapitalSource Inc., the downtown L.A. parent of industrial lender CapitalSource Bank.
High-powered hotel buyers turn to low-key Frank Yuan for help.
Former apparel importer fashions career out of helping Chinese investors buy U.S. hotels.
Los Angeles companies raised nearly a quarter billion dollars from venture capital firms in the second quarter, an increase over a sluggish start to the year, according to a report from accounting firm PricewaterhouseCoopers and the National Venture Capital Association.
Downtown bank holding company City National Corp. boosted loans and profits in the second quarter, beating analysts’ estimates.
Cathay General Bancorp on Wednesday reported solid second quarter earnings, backed by a growing loan portfolio.
LENDING: Broadway hopes to boost share price to remain on Nasdaq.
Broadway Financial seeks a capital idea to boost its share price and preserve its Nasdaq standing.
Raul Anaya has worked on some major transactions as president of local market for Bank of America.
Texas transplant Raul Anaya has compounded his local interest as president of Bank of America’s greater L.A. market.
FundAnything hopes celebrity campaigns will help it stand out from the crowdfunding competition.
ACQUISITION: Owner of Farmers Market sells one of county’s oldest lenders.
Gilmore Bank, a small Fairfax District lender and one of Los Angeles County’s oldest banks, will be acquired later this year by downtown L.A. bank holding company Grandpoint Capital Inc.
LENDING: Wells Fargo, Hanmi look beyond Koreatown market.
Two new executives hope to broaden the business base of their Koreatown banks.
Investment: Lorraine Spurge sees opportunity to tap overlooked companies.
After more than 20 years of winding through the worlds of high-yield bonds, publishing and entertainment consulting, Lorraine Spurge is trying out private equity. But she will draw from a limited pool.
BANKING & FINANCE QUARTERLY: Banks getting back into construction loans – very cautiously.
Some banks are now building up their construction loans after years of staying away. But they’re still super-cautious.
BANKING & FINANCE QUARTERLY
International City Bank still steers clear of construction loans after being nailed by them when the real estate market crashed.
Executive search firm Korn/Ferry International reported higher net income in its fourth quarter ended April 30.
Wilshire Bancorp vaults into New Jersey as part of the Koreatown lender’s expansion strategy.
The U.S. Supreme Court on Thursday further weakened the Port of Los Angeles’ Clean Truck Program, overturning two minor provisions that had been upheld by a lower court.
Chong Guk Kum, former chief executive of Westlake Village’s First California Financial Group Inc., has been named chief executive of Koreatown’s Hanmi Financial Corp.
Koreatown’s Wilshire Bancorp Inc. on Monday said it plans to acquire a small Korean-American bank in New Jersey, adding to its East Coast presence.
INVESTMENT: Clearlake buys IT firm and fashion website in two recent deals.
Santa Monica private equity firm Clearlake Capital Group has been putting a new fund to work with two acquisitions announced in recent weeks.
GROCERY: Meat vendor makes the cut as one of first clients.
Huntington Meats hopes Amazon’s new delivery service will beef up its business.
The coming public offering of Colony Capital LLC spinoff Colony American Homes could bring in more than $230 million.
Atmosphere is changing around SpaceX as it looks to become a steady rocket launcher.
SPECIAL REPORT: Wealthiest Angelenos
Some of L.A.’s richest residents elude the spotlight while piling up millions and even billions in low-profile industries.
MANUFACTURING: Move part of Mattel’s new focus on relations with retailers.
Barbie parent Mattel makes play to boost North American division by consolidating in El Segundo.
INVESTIGATION: Plaintiffs hope hard drives will help lawsuits against bank.
Politicians and campaign organizations suing a local bank over money stolen by campaign accountant Kinde Durkee could get their hands on more evidence in coming weeks.
Nate D. Sanders house handling items from ‘Captain Kangaroo.’
Huge collection of items from classic kids’ show “Captain Kangaroo” gets local house hopping.
Oaktree Capital Group LLC shares rose after the company beat Wall Street expectations again with first-quarter results reported Tuesday.
A New Jersey judge has ordered Santa Monica firm Colony Capital LLC to proceed with the sale of an Atlantic City hotel and casino to the operator of an online poker site.
INVESTMENT: Davidson offer too good to pass up for Crowell Weedon.
Downtown L.A. stock brokerage Crowell Weedon & Co. was founded during the Great Depression – and its age was showing.
A Montana stock brokerage has bought downtown L.A.’s Crowell Weedon & Co., the oldest local brokerage and one of just a few remaining in Los Angeles.
Firm polishes up diamonds as investment
Chris Duffield and Kristopher Schellhas hope to polish up investors’ portfolios with diamonds.