PacWest Bancorp, bank unit name president

Beverly Hills, Calif.-based PacWest Bancorp and its unit, Pacific Western Bank, named Paul Taylor president of both entities, effective July 1.

Taylor, a director of the company and the bank, and former president, CEO and director of Opus Bank, succeeds Matthew Wagner as president. Wagner will remain CEO until his retirement Dec. 31, 2023, at which point Taylor is expected to take over as president and CEO.

Taylor will continue as board member of PacWest Bancorp and Pacific Western Bank, while Wagner is anticipated to become executive chairman of the company at the end of December 2023.