In connection with his retirement, the company and Mr Min have entered into a consulting agreement, calling for Mr Min to continue to serve as an advisor to the bank until May 2009.
The board of directors of the company and of the bank has promoted Joanne Kim to interim president and CEO of the company and the bank from her current position as chief lending officer and executive vice president, effective upon Mr Min’s retirement.
Steven Koh, chairman of the board for Wilshire, said: The board of directors and I have tremendous respect for Soo Bong Min’s leadership and accomplishments over his nearly half a century in service to the banking industry, including, of course, the fundamental and crucial role that he has played in helping Wilshire to grow into a bank with more than $2 billion in assets.
