Bank’s youth movement pays off

Since hiring a 38-year-old as CEO in 2012, Banc of California has grown by leaps and bounds.

The gig: Steven Sugarman, 41, is chief executive of Banc of California, one of the largest and fastest-growing banks in Southern California. He became CEO of the Irvine bank’s holding company, Banc of California Inc., in 2012, at age 38 — young for any chief executive, especially in the stodgy world of banking. But Sugarman had impeccable academic credentials and a mile-long resume that preceded his assumption of the bank’s top post.

Local roots: Sugarman was born in Pasadena and grew up in Fullerton, where his parents still live. His father, Michael, is a retired rheumatologist; his mother, Hilda, is a former teacher who for 20 years has served on the Fullerton School District board.

Problem solver: After high school, Sugarman headed to Dartmouth College, where he studied mathematics and economics, before gaining entry to Yale Law School. He didn’t have a specific career in mind but was interested in the business world. “I looked at consulting, law, investment banking. I think I gravitated toward problem-solving.”

Katie Falkenberg Los Angeles Times SUGARMAN, 41, became CEO of Banc of California when it had assets of less than $1.5 billion. He has grown its assets to more than $10 billion, in part by buying two smaller banks and acquiring the Southern California operations of Puerto Rican bank...