BANKING: Cathay General shells out $126 million for New York’s Asia Bancshares.
Cathay General expands in east with its pickup of New York’s Asia Bancshares.
Job training program puts participants on front line of finance.
Vocational program sees bank teller training as a solid investment for job seekers.
lending: City National touts reserve in pickup by RBC.
Discretion paid off for City National in its surprise acquisition by Royal Bank of Canada.
REAL ESTATE: Rising’s deal for office park seen as first of two hefty pickups in area.
Acquisition of office park could be the first in a pair of pricey deals in downtown Los Angeles.
Packaged meat producer AdvancePierre Foods Inc. in Cincinnati, a portfolio company of downtown PE giant Oaktree Capital Management, announced Tuesday that it has agreed to acquire Landshire Inc. of Caseyville, Ill., a manufacturer of sandwich products. Terms of the deal were not disclosed.
Chinatown’s Cathay General Bancorp announced Wednesday that it has agreed to purchase fellow Chinese-American bank Asia Bancshares Inc. in Flushing, N.Y. for about $126 million in cash and stock.
Downtown Los Angeles real estate developer Rising Realty Partners has acquired the Figueroa Courtyard, a five-building low-rise office park in downtown Los Angeles. The purchase price was not disclosed.
West L.A. investment bank B. Riley Financial Inc. announced Friday that it has reached an agreement to provide $20 million in debtor-in-possession financing to beleaguered teen retailer Wet Seal Inc.
law: Class-action attorney shifts focus to only wealthy investors.
Recent rulings limiting shareholder lawsuits spur class-action attorney to change focus.
INVESTMENTS: Aristotle Capital signs up veteran duo to operate Boston outpost.
West L.A. money management firm Aristotle Capital Management wanted to add a team to lead its expansion into small- and midcap stocks, and it went about as far as possible in the continental United States to find one.
This week: Breakaway Capital, Gores Group, Riordan Lewis & Haden and Corridor Capital.
The Federal Reserve of San Francisco named a new chairman and made three other appointments to the board of its Los Angeles Branch, including Panda Express co-founder Peggy Tsiang Cherng.
The historic Proud Bird restaurant at the Los Angeles International Airport, which had been rumored to be closing after failing to agree to a long-term lease with airport operator Los Angeles World Airports, isn’t taking off after all.
Plaza Bank in Irvine announced Wednesday that it had reached an agreement to acquire El Segundo lender Bank of Manhattan, marking the L.A. area’s first bank merger announced this year.
Infineon, a German semiconductor giant, on Tuesday announced that it had finalized its purchase of El Segundo power management technology company International Rectifier. The deal, which was for about $3 billion, was announced Aug. 20.
real estate: Shares of Public Storage rise on analysts’ ratings boost.
Investors lock up shares of Public Storage after upgraded analyst ratings for the sector giant.
Aecom engineers biggest M&A transaction of 2014
The Business Journal provides the how and why of L.A.’s 10 biggest deals of 2014.
West L.A. private equity firm Brentwood Associates announced Tuesday that it had acquired Excelligence Learning Corp. in Monterey, which manufactures and sells children’s educational products such as arts and crafts sets to schools and parents. Terms of the deal were not disclosed.
INVESTMENT: Hedge fund partner sees opportunities in exports, purchasing.
Ilya Kuntsevich left Russia in search of a more lucrative career path in the United States.
Born and raised in Southern California, Roy Jimenez has never had a “White Christmas.” In fact, he’s never even seen snow fall.
Banc of California valued SoCal native Steve Sugarman enough to hand him the reins before his 40th birthday.
Youthful CEO Steve Sugarman has led Banc of California into an age of expansion.
Monrovia prepaid debit card company Green Dot Corp. has extended its distribution deal with Wal-Mart Stores Inc., but for just another eight months – an announcement that earned mixed reviews from analysts.
CONSTRUCTION: Tutor Perini scores $190 million for halted MGM hotel.
Investors put their money on Tutor Perini after firm reaches settlement on ill-fated Las Vegas project.
Investors tired of spinning their wheels in pursuit of returns have turned to packaged securities of auto loans, some even made to the riskiest borrowers.
Hunt for returns drives lenders and investors to portfolios of auto loans, some to subprime borrowers.
Easy credit and low lease rates boost traffic at car dealerships.
Celia Rivas turned life around by opening her own gym business.
Gym owner Celia Rivas credits a Grameen America microloan with getting her life back in shape.
INVESTMENT: Lunch leads to new job for Eric Beckman at friend’s Breakwater.
Saif Mansour took Eric Beckman to lunch in February at Toscanova in the Westfield Century City mall.
Ryan McKim is actually kind of a morning person. But getting out of bed at 6 a.m. on a recent Sunday took some extra motivation.
Real Estate: Recent stock moves by Macerich spur talk of acquisition.
Real Estate: Macerich’s stock deals may mean the mall operator is preparing for a sale – of itself.
Pasadena’s East West Bank became the first Los Angeles bank with a branch in the Chinese city of Shenzhen, as it opened its newest storefront in the coastal boomtown on Tuesday during a ceremony attended by Los Angeles Mayor Eric Garcetti.
TRAINING: Bill Clinton speaks on financial literacy for Banc of California.
If you want to explain economic concepts to everyday Californians, you could do a lot worse than enlisting Bill Clinton.
INVESTMENT: B. Riley’s shares climb on strong earnings after merger.
B. Riley sees positive returns on Wall Street from the broker’s liquidation business.
American Apparel announced a substantial quarterly loss on Monday, but a large part of that was due to one-time charges relating to an internal investigation of former chief executive Dov Charney.
Santa Monica car sales portal TrueCar Inc. announced in a Monday SEC filing that it plans to sell 6.4 million shares in a secondary offering.
Backers, operators sue over DOA insurance fund
Investors sue operators of life settlement fund, alleging they were dead wrong on policy payouts.
Robert Zuckerman is chief executive of Woodland Hills real estate development firm Continental Communities Group. His father, Edward Zuckerman, bought 150 acres of coastal real estate on the Palos Verdes Peninsula in the 1950s.
INVESTMENT: Pritzker execs relocate to pursue business in blossoming market.
Chicago’s Pritzker Group Private Capital bets on L.A. market with beefed-up outpost.
LENDING: Chinese-American sector bucks consolidation trend.
Chinese-American banks prefer to fly solo as consolidation gains ground among other institutions.
Investors fail to check in despite promising prognosis
Technical difficulty makes products hard to assess for venture capitalists.
A surfer for 14 years, MomentFeed Chief Executive Robert Blatt, 54, woke up before dawn about a month and a half ago to hit the waves at Topanga State Beach.
Century City private equity firm Ares Management announced Friday that one of its subsidiaries will buy Boston’s Energy Investors Funds, an asset manager focusing on energy infrastructure with about $4 billion in assets under management.
Pacific Commerce Bank in Little Tokyo announced Thursday that it had reached an agreement to buy Chula Vista’s Vibra Bank, becoming the latest L.A.-area bank to hop onboard the merger train.
METALS: Merit chief exec says loss of Internet ads forced business to close.
Mike Getlin, the former chief executive of defunct Santa Monica precious metals broker Merit Gold, blames the city of Santa Monica for tarnishing his reputation and smearing his business.
Sam Wang makes case for chic accessories for businessmen.
Engineer Sam Wang has designs on a career in stylish accessories for businessmen.
INVESTMENT: Nas, partner assure musician takes serious approach to funding firms.
Rapper Nas is looking to spin his music-made money into hefty returns as a venture capitalist.
BANKING: Coalition scores concessions in lender unions.
BANKING: California Reinvestment Coalition looks to lock up concessions from OneWest and CIT or trip up their merger.
Health Care: Shares of Arrowhead tumble after human results disappoint.
Health Care: Investors check out of Arrowhead Research’s stock after disappointing hepatitis B tests.
Finance: Enverto envisions traditionally staid sector as ripe for app, investors.
Finance: Enverto banks on equipment leases with customers who have been spurned by other lenders.
Beverly Hills private equity firm Gores Group announced Thursday that it sold Sage Automotive Interiors to Clearlake Capital Group, a private equity firm in Santa Monica. Terms were not disclosed.
The California Reinvestment Coalition, an organization that advocates for banks to do more for low-income communities, will oppose the planned purchase of Pasadena’s OneWest Bank by Livingston, N.J., finance firm CIT Group Inc.