CU Bancorp (NASDAQ: CUNB), the parent company of wholly owned California
United Bank, today announced that Kaveh Varjavand has been appointed to
serve as a Director of CU Bancorp and its subsidiary, California United
Bank, effective September 1, 2015.
“We are very pleased to welcome Kaveh to the Boards of CU Bancorp and
California United Bank; he has broad experience in financial reporting,
risk management and regulatory compliance for the banking industry and
will add valuable perspective to our Boards,” said David Rainer,
Chairman and CEO of CU Bancorp and California United Bank. “We look
forward to benefitting from his knowledge and counsel.”
Varjavand is a highly accomplished accounting and financial professional
with 29 years of experience in the financial services industry,
including 19 years in public accounting, during 14 of which he was a
financial services partner.
Varjavand is the founder and president of AARCS LLC (Accounting, Audit,
and Reporting Consulting Services), established in 2013, which provides
consulting services to community banks in the areas of financial
reporting, risk management, regulatory compliance, and governance, among
others. From 2006 to 2013, he was the Partner-in-Charge of the Southern
California Financial Services Group at Moss Adams LLP, where he was
responsible for all aspects of client service and practice development
related to financial services clients in Southern California. In 1990
Varjavand joined the audit staff at KMPG LLP, and served there as an
audit partner from 1999 to 2006. He left KMPG for four years from 1994
to 1998 to work in the banking industry: from 1994 to 1997 he served as
Vice President, Corporate Planning & Internal Asset Review, at Coast
Federal Bank, an $8 billion savings bank; from 1997 to 1998, he served
as First Vice President, Planning & Analysis at California Federal Bank,
a $60 billion savings bank.
He is a member of the American Institute of Certified Public Accountants
and the California Society of Certified Public Accountants.
Varjavand earned a bachelor’s degree in accounting with a minor in
economics from the University of Kentucky.
About CU Bancorp and California United Bank
CU Bancorp is the parent of California United Bank. Founded in 2005,
California United Bank provides a full range of financial services,
including credit and deposit products, cash management, and internet
banking to businesses, non-profits, entrepreneurs, professionals and
investors throughout Southern California from its headquarters office in
Downtown Los Angeles and additional full-service offices in the San
Fernando Valley, the Santa Clarita Valley, the Conejo Valley, Simi
Valley, Los Angeles, South Bay, Orange County and the Inland Empire.
California United Bank is an SBA Preferred Lender. To view CU Bancorp’s
most recent financial information, please visit the Investor Relations
section of the Company’s Web site. Information on products and services
may be obtained by calling 818-257-7700 or visiting the Company’s
website at www.cunb.com.
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