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Opus Bank Forms Media and Entertainment Banking Division

March 30, 2016, 07:40 AM
Filed Under: New Venture

Opus Bank announced the formation of its Media and Entertainment Banking division, which is responsible for providing capital financing and banking solutions to clients within the following industry sectors: television, music, digital media, broadcasting, sports, and film, as well as the businesses that support those industries. Opus Bank additionally announced today that Jeffrey Zaks, a 12-year banking and entertainment veteran, has joined Opus as Senior Managing Director, Head of Media and Entertainment Banking to launch and lead the new division.

Michael Allison, Co-President of Opus and President of the Commercial Bank, commented, “We are pleased that Jeff has joined Opus to lead our new Media and Entertainment Banking division. He is a highly talented and experienced banking professional, having executed approximately $1.0 billion of financing transactions within the media and entertainment industry.” Allison added, “Jeff’s significant media and entertainment banking experience, as well as his many years working within the industry, provides a unique balance of knowledge and experience upon which he relies to structure and deliver sophisticated, client-centric solutions.” Allison concluded, “We expect that under Jeff’s leadership, Opus’ Media and Entertainment Banking division will achieve considerable success growing its client base and market presence as we further execute on our Commercial and Specialty Banking focused niche strategy and leverage our deep banking presence up and down the West Coast.”

Zaks joined Opus most recently from CIT Bank, following its acquisition of OneWest in August 2015, where he served as Vice President, Media and Entertainment Finance, having joined OneWest Bank in 2011. While at OneWest Bank, Zaks sourced, structured, and underwrote approximately $1.0 billion of transactions for the Media and Entertainment Finance Group. Zaks’ background includes seven years of experience working within the media and entertainment industry, most recently with Disney ABC Television Group, where he sourced, analyzed, and negotiated new opportunities for the digital media group. Earlier, Mr. Zaks held business development, finance, and analyst roles with leading companies within the media and entertainment industry, including Summit Entertainment, Endemol USA, and 2929 Productions.Zaks began his career in 2004 with the William Morris Agency. He holds a Bachelor of Science degree from the University of California, Davis and Master of Business Administration from Pepperdine University’s Graziadio School of Business and Management, where he graduated with honors.

Opus Bank is an FDIC insured California-chartered commercial bank with $6.6 billion of total assets, $5.5 billion of total loans, and $5.3 billion in total deposits as of December 31, 2015. Opus Bank provides high-value, relationship-based banking products, services, and solutions to its clients through its Retail Bank, Commercial Bank, Merchant Bank, and Correspondent Bank. Opus Bank offers a suite of treasury and cash management and depository solutions and a wide range of loan products, including commercial business, healthcare, technology, multifamily residential, commercial real estate, and structured finance, and is an SBA preferred lender.

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