Taiwan-based CTBC Bank Relocates U.S. Headquarters To Los Angeles, California
Area Development Online News Desk (09/27/2013)
CTBC Bank Corp., formerly Chinatrust Bank U.S.A, opened its new US headquarters in downtown Los Angeles, California.
Headquartered in Taiwan, the company’s parent, Chinatrust Commercial Bank was renamed CTBC Bank Co., Ltd. in June 2013. It is a global financial institution with over $67 billion in assets. CTBC Bank said it relocated its US headquarters from Torrance, California to Los Angeles to provide customers with a more central and accessible location, particularly for corporate and commercial business.
“CTBC Bank moving its headquarters here continues a trend of international investment in the global city of Los Angeles,” said Mayor Eric Garcetti. “Their business adds to the revitalization of the downtown L.A. community and will create jobs for Angelenos, spurring on our local economy.”
“CTBC Bank is a growing, well-capitalized bank and our new headquarters in LA, as well as our name change is a critical step in our evolution,” said Noor Menai, President and CEO of CTBC Bank in the US. “Our new headquarters will allow us to better serve Southern California residents and businesses who are looking to realize their financial ambitions by providing them personalized, local service combined with strong global resources and exceptional financial strength.”
“As we enter a more dynamic period of growth, our customers remain at the heart of each decision we make,” said Brian Constable, Executive Vice President and Head of Retail Banking. “Our new headquarters, rebranding and name change reflects our continued commitment to providing personalized, local service combined with standout global resources and exceptional financial strength.”
“The US headquarters of CTBC Bank, a $67 billion company with global operations that also span the US, will immediately become one of the largest banking operations in the city. It will act as a magnet for other growing companies that want to be positioned here in Los Angeles, the Gateway to Asia,” said Carol E. Schatz, President and CEO, Central City Association.