Pacific Western Bank unveils revamped venture banking team, is hiring in Durham

DURHAM – Pacific Western Bank, which acquired Durham-based Square 1 in 2015 then dropped that name and rebooted its venture banking team, unveiled a new lineup of executives including a leader who is based in Durham.

Jason Kranack is executive vice president and head of Tailored Solutions and will operate out of Durham, PacWest announced Wednesday.

The bank also is hiring in Durham, posting several open positions via LinkedIn.

Kranack, the former executive vice president and head of human resources for Square 1, had been executive vice president, banking and operations since 2016.

The bank also remains committed to venture funding as noted in a recent newsletter that cited two investments in the Triangle (Precision Biosciences in Durham and Percona in Raleigh) as examples.

“We are committed to providing flexible banking solutions to entrepreneurs and investors at any stage of their journey – from early stage to IPO and beyond. If you’re ready to grow, we’re ready to help,” the bank said.

Other changes in the executive team and where each will be based:

Mark Yung – Chief Operating Officer, Los Angeles, CA
Frank Tower – President – Venture Banking Group, Boston, MA
Sean Lynden – EVP, Head – Technology, Menlo Park, CA
Susan Tang – Managing Director, Head – Global Treasury Management, San Francisco, CA
Brad Smith – Managing Director, Head – Fund Finance, Menlo Park, CA
Scott Hansen – Managing Director, Co-Head – Life Sciences, Boston, MA
Scott Foote – Managing Director, Co-Head – Life Sciences, San Diego, CA

“Under this group’s leadership we are excited to continue our commitment to venture banking, providing customized solutions and counsel to the entrepreneurial ecosystem PacWest said in a statement.

24 Square 1 bank veterans jump to form new VC group at Signature Bank

Seven other executives have joined the venture banking team:

Woodrow Thames – SVP, Banker – Global Treasury Management, Austin, TX, 20 years’ experience, previously with Silicon Valley Bank
James Keeratisakdawong – SVP, Banker – Technology, Chevy Chase, MD, 14 years’ experience, previously with Core Capital Partners, LLC
Audrey Yen – SVP, Client Manager – Fund Finance, Chevy Chase, MD, 30 years’ experience, previously with Ally Bank
Ryan Matava – SVP, Client Manager – Portfolio Management, Denver, CO, 13 years’ experience, previously with Colorado Business Bank
Bryce Bewley – VP, Banker – Technology, San Francisco, CA, 8 years’ experience, previously with SquareTrade
Steve Kent – VP, Client Manager – Portfolio Management, San Diego, CA, 31 years’ experience, previously with Torrey Pines Bank
Paul Persichette – VP, Banker – Global Treasury Management, New York, NY, 12 years’ experience, previously with Santander Bank, N.A

PacWest, which has more than $26 billion in assets, also now operates only one branch outside of California – the one in Durham. Square 1 operated in 13 cities when acquired by PacWest.