Cathay General Bancorp (Nasdaq: CATY) has announced the retirement of Mr. Kim R. Bingham as Chief Risk Officer of Cathay Bank, effective January 21, 2025. Mr. Bingham will continue to serve as Executive Vice President, Special Advisor to the Office of the President for a transition period expected to end on or about March 31, 2025. However, he will no longer be a designated executive officer of Cathay Bank.
Succeeding Mr. Bingham is Ms. Diana Deen, who will join Cathay Bank as Executive Vice President and Chief Risk Officer effective January 21, 2025 and will be a designated executive officer of Cathay Bank.
Ms. Diana Deen, aged 62, brings over 20 years of banking experience and has held key leadership roles in risk management and compliance. Her most recent position was with Bank of the West from 2018 to 2023, where she served as Executive Vice President, Head of Operational Risk for its Basel Operational Risk Program and was appointed as the Chief Ethics and Conduct Officer in 2022.
Cathay General Bancorp, the holding company for Cathay Bank, was founded in 1962 and currently operates over 60 branches across the United States in California, New York, Washington, Texas, Illinois, Massachusetts, Maryland, Nevada, and New Jersey. Overseas, it has a branch outlet in Hong Kong and representative offices in Beijing, Shanghai, and Taipei. The market has reacted to these announcements by moving the company's shares 1.0% to a price of $48.83. For more information, read the company's full 8-K submission here.
