Pacific Western Bank launched a Tax-Exempt Lending group to focus on the capital needs of municipalities, schools and school districts, non-profits and other issuers of tax-exempt debt.
This group will add to the bank’s already diverse financing options in the state of California and beyond. In conjunction with the launch Pacific Western has hired two highly experienced and accomplished bankers.
Christopher Baron will lead the bank’s efforts in the government sector. He has spent his entire 24 year career in public finance, all within the Pacific Western Bank’s primary market of Southern California. Most recently he served as Managing Director of Public Finance for MUFG Union Bank, where he was responsible for their Western state region. Prior to that he was the head of the education and Nonprofits Division at US Bank, where he led a team of 15 professionals serving the national market.
Daniel Bronfman will lead the bank’s efforts in the non-profit sector. He offers a unique skill set developed over a 30-year career as both a lender and advisor, structuring over $1 billion in tax-exempt debt for nonprofit organizations and industrial development projects.
Prior to joining Pacific Western Bank, Bronfman was the founder and president of Growth Capital Associates. His advisory firm specialized in facilitating tax-exempt and taxable financing for the benefit of nonprofit organizations and businesses involved in manufacturing, recycling and value-added processing activities.
“The launch of a Tax-Exempt lending business group is consistent with our commitment to serve the communities in which we operate, while also providing a new avenue for growth in asset classes that meet both our credit and return requirements,” said Matthew Wagner, president and CEO of Pacific Western Bank.
“We look forward to applying our specialized knowledge and experience with tax-exempt lending to assist the current and future clients of PacWest Bancorp,” said Baron.
“We are confident that this type of financing will continue to appeal to a growing number of tax-exempt entities as another tool towards achieving their mission, and growing their future opportunities,” added Bronfman.
The team will be housed in the company’s headquarter location in Beverly Hills, CA, but will conduct business nationwide.
Pacific Western Bank is a LA-based commercial bank with over $21 billion in assets.
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