The chief executive officer of UCBH Holdings, the parent company of United Commercial Bank, has announced his departure from the company after a difficult year, according to the San Jose Business Journal. Thomas Wu, who also served as UCBH’s president and board chairman, will leave after eighteen years with the organization. UCBH has also removed Chief Operating Officer Ebrahim Shabudin. UCBH is currently the country’s largest undercapitalized bank. “We’ve been doing construction lending for 20 years, but we’ve never experienced anything like what we have in the last 12 months,” said Wu in May. “It’s unprecedented.”
UCBH CEO Departs
The chairman, CEO, and president of UCBH Holdings will leave the bank following the bank’s difficulties in the recession.
September 8, 2009