Los Angeles Business Journal

Chinatown Lender Looks To East in Expansion Plan

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.

Window Opens for Bank Tellers

Job training program puts participants on front line of finance.

Vocational program sees bank teller training as a solid investment for job seekers.

Tease photo

Discretion Paid In Bank Deal

lending: City National touts reserve in pickup by RBC.

Discretion paid off for City National in its surprise acquisition by Royal Bank of Canada.

Downtown L.A.’s Draw Continues for Investors

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.

PE Roundup: Private Equity Deals Announced This Week

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.

Cathay to Acquire New York Bank

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.

Tease photo

Rising Realty Partners Buys Figueroa Courtyard

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.

B. Riley Provides Financing to Bankrupt Wet Seal

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.

Tease photo

Shareholders’Suit Risks Rise

law: Class-action attorney shifts focus to only wealthy investors.

Recent rulings limiting shareholder lawsuits spur class-action attorney to change focus.

L.A. Firm Branches Into Small, Midcap Stocks

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.

PE Roundup: Private Equity Deals Announced This Week

This week: Breakaway Capital, Gores Group, Riordan Lewis & Haden and Corridor Capital.

Local Federal Reserve Branch Appoints Executive Director of SAG-AFTRA

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.

Proud Bird at LAX Signs 20-Year Lease Extension

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.

Irvine Lender to Acquire El Segundo’s Bank of Manhattan

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 Closes Purchase of International Rectifier

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.

Storage Business Secures Support for Growth Plan

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.

Tease photo

Biggest Deals of the Year

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.

PE Roundup: Private Equity Deals Announced This Week

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.

Russian Emigre Looks to Build on Rubble of Ruble

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.

Snow Jobs Fall Through

Born and raised in Southern California, Roy Jimenez has never had a “White Christmas.” In fact, he’s never even seen snow fall.

Fast Track

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.

Green Dot Extends Deal With Wal-Mart – For Now

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.

Builder Scores Big Payout From Las Vegas Project

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.

Tease photo

Special Report Banking & Finance: Driving Interest

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.

Tease photo

Cars Hit Road With Cheap Leases, Easy Credit

Easy credit and low lease rates boost traffic at car dealerships.

Healthy Payoff From Microloan

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.

Tease photo

Veteran Executive Puts Retirement in Turnaround

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.

Keeping Cool, Kosher

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.

Tease photo

Will Holiday Season Bring Deal for Mall Operator?

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.

East West Bank Opens Shenzhen Branch

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.

Lender Borrows Former U.S. Chief Exec for Event

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.

Brokerage’s Liquidation Business Makes Splash

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.

Charney Investigation Costs American Apparel

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.

TrueCar, Investors to Sell Shares

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.

Life Investors

Backers, operators sue over DOA insurance fund

Investors sue operators of life settlement fund, alleging they were dead wrong on policy payouts.

Who are Robert Zuckerman and Michael Meyer?

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.

Tease photo

Chicago Equity Firm Shores Up Westside Office

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.

Single Has Value For Some Banks

LENDING: Chinese-American sector bucks consolidation trend.

Chinese-American banks prefer to fly solo as consolidation gains ground among other institutions.

Tease photo

Health care hospitals: Taking Shot

Investors fail to check in despite promising prognosis

Technical difficulty makes products hard to assess for venture capitalists.

Surfer Goes for Broke

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.

Ares Acquires Energy Investment Firm

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 to Acquire Vibra Bank

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.

Gold Broker Blames Google, Not City, for Closure

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.

Engineer Has Designs On Style

Sam Wang makes case for chic accessories for businessmen.

Engineer Sam Wang has designs on a career in stylish accessories for businessmen.

Tease photo

Rapper Cues Up Career In Venture Capital Sector

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.

Activists’ Protest On the Money

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.

Wall Street Flees From Poor Hepatitis B Results

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.

Tease photo

Leasing Firm Commits Long Term to Equipment

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.

Gores Group Sells Car Fabrics Maker to Clearlake Capital

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.

Community Group to Oppose CIT-OneWest Deal

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.

Prev