Business

CPF Names Company Designations

June 5, 2015, 10:32 AM HST
* Updated June 5, 10:33 AM
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The parent company of Central Pacific Bank, Central Pacific Financial Corp., has announced new appointments within its company.

Catherine Ngo was named President and Chief Executive Officer, and David S. Morimoto has been named Executive Vice President, Chief Financial Officer, and Treasurer of both the holding company and its bank subsidiary. In addition to the added appointments, Central Pacific Financial Corp. announced that current Chairman and CEO John C. Dean will take over the role of Executive Chair of CPF and CPB.

Ngo, in addition to Lance Mizumoto, President and Chief Banking Officer, has also been appointed as directors to the board of CPF and CPB.

“With Catherine’s proven leadership, she is the right person to take our organization forward,” said John C. Dean, Chairman and CEO. “In addition to her business expertise, Catherine has been instrumental in building a strong organizational foundation premised on employee core values and our customers’ experience.” Dean further stated, “As our chief banking officer, Lance will continue to provide the strength of leadership and expertise needed to drive our company to higher levels. Both Catherine and Lance will be strong additions to our board of directors.”

Aside from his position of chair of the CPF and CPB board of directors, Dean will actively engage in strategic direction and guidance of the company as Executive Chair and lead the Office of the Chair, which also includes Ngo and Mizumoto.

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“I look forward to leading the company and continuing the great progress toward achieving higher performance levels,” said Ngo, President and COO. “I have full confidence in the strength of our management team and of our employees as we realize on our opportunities in the market.”

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In 2010, Ngo joined the company as EVP and Chief Administrative Officer. Prior to her time with CPF and CPB, she was a founding general partner, along with Dean, of Startup Capital Ventures L.P.

With over 30 years in banking, Mizumoto will continue to oversee the organization-wide strategic direction and management of the bank’s commercial banking, commercial and residential real estate lending, business banking, retail banking, and wealth management lines of business. Mizumoto currently serves as director of the Chamber of Commerce of Hawai’i and regent of Chaminade University. He was recently appointed to the State of Hawai’i Board of Education.

Morimoto has been with CPF and CPB since 1991. He is the current Senior Vice President and Treasurer. Morimoto is a graduate of the University of Hawai’i with a degree in Finance and received his Master of Business Administration from Chaminade University.

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“David has consistently demonstrated his critical thinking and broad vision throughout his 24 years at our company, and especially during the turnaround and recovery periods of our company,” stated Dean. “We look forward to his continued contributions at the CFO level.”

Executive Vice President and CFO Denis Isono will become the bank’s EVP, Corporate Services. Isono will manage the business continuity and property management areas and continue to serve as President of the Central Pacific Bank Foundation.

“We are very fortunate to continue benefiting from Denis’ experience and expertise he gained as our CFO and former chief operations officer of our organization,” said Dean. “His help in facilitating a smooth transition will be invaluable.”

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