Opus in Calif. Hires Former City National Exec for Senior Credit Post

Opus Bank in Irvine, Calif., continues to bolster its credit ranks following a surprising third-quarter loss.

The $7.7 billion-asset company said in a press release Thursday that it had hired Brian Fitzmaurice as its senior chief credit officer. Fitzmaurice also joined Opus' executive committee.

Fitzmaurice recently served as chief credit officer at City National in Los Angeles, which was recently sold to Royal Bank of Canada.

"In combination with the recently announced addition of new senior talent and the promotions of key Opus executives, we anticipate that Brian will immediately have a positive impact on the credit risk management culture, as well as the continuing growth and maturation of Opus," Stephen Gordon, the company's chairman, president and chief executive, said in the release.

Opus last month promoted two lending officers, Ed Padilla and Geoff Anfuso, to lead its commercial real estate and commercial and specialty banking divisions. It also hired Volkan Salar, a former manager at BBVA Compass, to become its senior credit administrator of commercial banking. Opus also decided to split its chief credit officer responsibilities to create a role solely focused on commercial and specialty lending.

The company's third-quarter loss was tied to nearly $39 million in chargeoffs on eight loans in its technology, commercial and specialty lending divisions.