Preferred Bank, one of the largest independent commercial banks in California, announced that the Board of Directors has named Nick Pi to the position of Executive Vice President and Chief Risk Officer. Pi has served as the Bank’s Chief Credit Officer since 2015 and will continue to oversee the credit function. Pi will now also oversee the BSA and Compliance Departments as well.

Li Yu, Chairman and CEO of the Bank said, “Nick has been a very strong leader in Credit Administration and we’re excited to have someone with his experience and knowledge taking over the role of Chief Risk Officer. We feel this is an important step in developing our enterprise risk oversight.”