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PENSCO Names David Foxhoven Vice President - Head of Operations

September 20, 2018

SAN FRANCISCO--(BUSINESS WIRE)--Sep 20, 2018--PENSCO Trust Company (“PENSCO”) announced today that David Foxhoven, a seasoned operations veteran with over 25 years of financial services experience, has joined PENSCO as Vice President - Head of Operations.

PENSCO Trust Company, a wholly-owned subsidiary of Opus Bank (“Opus”) (NASDAQ: OPB), is a leading alternative asset IRA custodian with $14 billion in assets under custody and nearly three decades of expertise providing custodian services for self-directed individual retirement accounts, qualified plans, and other self-directed accounts that are invested in alternative assets, including private equity, real estate, notes, cash, and other non-exchange traded assets.

Curtis Glovier, Chairman and Chief Executive Officer of PENSCO, stated, “We are proud to have David join PENSCO to lead our Operations team. David’s varied and accomplished operations background makes him an outstanding addition to our team. He brings to PENSCO not only years of experience in financial services operations, but also deep experience in technology with a focus on operational excellence and the client experience.”

David Foxhoven, Vice President - Head of Operations, commented “What really attracted me to PENSCO was its reputation among top-shelf broker-dealers as well as PENSCO’s commitment to transforming the industry with its award-winning Alt-Nav technology that makes it easy to invest in alternative assets using retirement dollars. The technology also streamlines the work of the Operations groups I oversee and related areas, including Investment Review & Maintenance, Institutional and Retail Client Services, Sales Support, Business Development, and Business Analytics.” Mr. Foxhoven added, “I look forward to contributing to the continued transformation of this industry.”

Mr. Foxhoven joins PENSCO most recently from SRS Acquiom, where from 2016 he served as Executive Vice President, Chief Operations & Technology Officer. While at SRS Acquiom, Mr. Foxhoven was responsible for the firm’s Operations, Technology, Project Management Office, and Product teams. From 2014 to 2016, Mr. Foxhoven served as Executive Vice President, Head of Technology and Operations with ProShare Advisors, LLC, where he was responsible for leading and directing the firm’s client services, operations, and information technology teams. From 2010 to 2013, Mr. Foxhoven served as Senior Vice President, Head of Denver Operations for Brown Brothers Harriman & Co., where he was responsible for the firm’s middle office operations. From 1996 to 2010, Mr. Foxhoven served with Oppenheimer Funds, joining as Manager, Banking Operations and rising to the role of Senior Vice President responsible for the Fund Accounting and Administration, Investment / Fund Operations, and Monetary Control departments. Mr. Foxhoven began his career in 1991 with Merrill Lynch. Mr. Foxhoven holds a Bachelor of Science degree in Business Administration from the University of Nebraska, Kearney and a Master of Business Administration from Regis University in Denver, Colorado.

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About PENSCO Trust Company PENSCO Trust Company has been helping investors use their retirement account funds to invest in real estate, private equity and other non-exchange traded assets since 1989. As the trusted custodian of $14.0 billion in assets and more than 50,000 client accounts, PENSCO works with financial institutions, capital raisers and financial advisors, as well as self-directed investors who typically have a point of view about alternative investments based on their own knowledge or expertise and want to put their tax-advantaged retirement dollars to work in these opportunities. To learn more, visit www.pensco.com.

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About Opus Bank Opus Bank is an FDIC insured California-chartered commercial bank with $7.2 billion of total assets, $5.1 billion of total loans, and $5.9 billion in total deposits as of June 30, 2018. Opus Bank provides superior ideas and solutions, and banking products to its clients through its Retail Bank, Commercial Bank, and Merchant Bank. Opus Bank offers a suite of treasury and cash management and depository solutions and a wide range of loan products, including commercial, healthcare, media and entertainment, corporate finance, multifamily residential, commercial real estate and structured finance, and is an SBA preferred lender. Opus Bank offers commercial escrow services and facilitates 1031 Exchange transactions through its Escrow and Exchange divisions. Opus Bank provides clients with financial and advisory services related to raising equity capital, targeted acquisition and divestiture strategies, general mergers and acquisitions, debt and equity financing, balance sheet restructuring, valuation, strategy and performance improvement through its Merchant Banking division and its broker-dealer subsidiary, Opus Financial Partners, LLC, Member FINRA/SIPC. Opus Bank’s alternative asset IRA custodian subsidiary has $14 billion of custodial assets and over 50,000 client accounts, which are comprised of self-directed investors, financial institutions, capital raisers and financial advisors. Opus Bank operates 48 banking offices, including 29 in California, 16 in the Seattle/Puget Sound region in Washington, two in the Phoenix metropolitan area of Arizona and one in Portland, Oregon. Opus Bank is an Equal Housing Lender. For additional information about Opus Bank, please visit our website: www.opusbank.com.

Forward-Looking Statements This release may include forward-looking statements related to Opus’ plans, beliefs and goals, which involve certain risks, and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. The forward-looking information presented in this press release is not a guarantee of future events, and actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “intend” or “expect” or variations thereon or similar terminology. All such statements speak only as of the date made, and Opus undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180920005206/en/

CONTACT: PENSCO Trust Company

Ms. Peggy Cramer, 510-333-1160

Vice President, Communications

or

Opus Bank

Mr. Jeff L. Leonard, 949-251-8146

SVP, Dir. of Corporate Strategy/Communications

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES ACCOUNTING BANKING FINANCE LEGAL COMMUNICATIONS PUBLIC RELATIONS/INVESTOR RELATIONS

SOURCE: PENSCO Trust Company

Copyright Business Wire 2018.

PUB: 09/20/2018 07:00 AM/DISC: 09/20/2018 07:00 AM

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