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Glovier to Join Opus Bank From Fortress Investment Group

August 04, 2016, 07:05 AM

Opus Bank announced Curtis A. Glovier, who until recently served as a managing director at Fortress Investment Group, LLC and has served as a director of Opus Bank since the launch of Opus on September 30, 2010, has agreed to join Opus and will be appointed to the positions of Chairman and Chief Executive Officer of PENSCO Trust Company (“PENSCO”), a wholly-owned subsidiary of Opus; Senior Executive Vice President, Head of Wealth Services, of Opus; and Senior Managing Director in the Merchant Banking division. Glovier will continue to serve as a member of Opus’ board of directors, now as a management representative instead of as a board representative of Fortress Investment Group LLC. Opus’ board membership will remain at nine.

Stephen H. Gordon, Founding Chairman, Chief Executive Officer and President of Opus Bank stated, “We are proud to have Curtis take on the leadership of both Opus’ Wealth Services division and our leading alternative asset IRA custodian, PENSCO Trust Company. The depth and breadth of Curtis’ knowledge and expertise has been a tremendous resource throughout his service on Opus’ board of directors since Opus’ recapitalization and launch in September 2010. Having worked closely together for nearly six years, I’m certain that Curtis will achieve continued success as he leads and grows the highly-talented PENSCO team.” Gordon concluded, “Additionally, given Curtis’ decades of success as a private equity and mezzanine investor, as an investment banker, and as an owner and director of numerous companies in a variety of sectors, we look forward to Curtis’ contributions as we expand Opus and its Merchant Banking activities.”

From May 2007 to July 2016,  Glovier served as a Managing Director at Fortress Investment Group LLC, responsible for the origination, execution, and monitoring of private equity, mezzanine, and other investments within Fortress’s credit business. Glovier also served on the investment committee of a number of Fortress investment funds, including the Fortress Credit Opportunities Funds, which invest in mortgage-backed securities, loans, and other credit-related opportunities. From May 2000 to May 2007, Glovier served as a Managing Director and Co-Head of the Middle Market Buyout group at Perseus, LLC. From June 1995 to May 2000, he served as a Managing Director of Nassau Capital, which managed over $2 billion on behalf of Princeton University. Earlier in his career, Glovier worked at Goldman, Sachs & Co. in the Mergers & Acquisitions, Structured Finance and Leveraged Buyout groups, and was also a management consultant at The Boston Consulting Group. He has served as a director of companies in the financial services, business services, branded consumer products, intellectual property, pharmaceutical, alternative energy, communications, and manufacturing areas, and as Chairman of the Board of Maritime Telecommunications Network.

Opus Bank is an FDIC insured California-chartered commercial bank with $7.5 billion of total assets, $6.1 billion of total loans, and $6.2 billion in total deposits as of June 30, 2016. 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.

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