PacWest and Pacific Western Bank appointed Paul W. Taylor president of both the company and the bank, effective July 1. Taylor currently serves as a director of the company and the bank and is a member of each of their respective asset/liability management and risk committees.

Taylor’s appointment follows the company’s previously announced plan to name a successor for Matthew P. Wagner, the current president and CEO of the company. Wagner will continue as CEO until Dec. 31, 2023, with Taylor reporting directly to Wagner during this period. Upon Wagner’s planned retirement as CEO on Dec. 31, 2023, Taylor will transition to the role of president and CEO of the company and the bank. Taylor will continue to serve on the boards of directors of the company and the bank. At the end of December 2023, Wagner will transition to the role of executive chairman of the company.

“I have known Paul both personally and professionally for over two decades. I have great respect for him as a leader with strategic vision and acumen,” Wagner said. “I look forward to working with him as he steps into this role at PacWest and am confident he will quickly add value because of his strong experience and knowledge of our organization. I believe PacWest will continue to grow under his leadership and stand out as an industry leader both today and in the future.”

Over the next 18 months, Taylor will work with the boards of directors of the company and the bank and in concert with Wagner and the existing executive team to ensure a smooth transition of leadership to support employees, customers, stockholders and the communities that Pacific Western Bank serves. Taylor will be located in Pacific Western Bank’s Denver executive office.

Taylor has more than 35 years of experience in the banking industry, most recently having served as the CEO, president and director of Opus Bank, a publicly traded California-chartered bank, from 2019 to 2020. Prior to that, he was the CEO, president and director of Guaranty Bancorp, a publicly traded financial institution headquartered in Colorado, and CEO and chairman of the board of directors of Guaranty Bank and Trust Company, a banking subsidiary of Guaranty Bancorp, from 2011 to 2018. Prior to that, he held various positions, including executive vice president, chief financial and operating officer and secretary of Guaranty Bancorp.