Banc of California Launches New Private Banking Unit
The bank is now offering premium deposits and lending to high-net-worth clients in Los Angeles.
Updated on Oct. 26, 2026 in Banking
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Banc of California has launched a new private banking division, expanding its services to target high-net-worth households in the Los Angeles area. This move introduces a suite of personalized financial tools, including premium deposit accounts and credit solutions, to the local market.
Why it matters
The expansion reflects the bank's strategy to address a perceived gap in high-touch personal financial services for local clients. As banks compete for high-net-worth deposits, households may find more options for specialized lending and treasury solutions available in their area.
The private banking industry recently reached $128.7 billion in total revenue, reflecting a 7.5% annual growth rate over the past five years. Banc of California enters this space with $34 billion in total assets.
The players
Banc of California
A $34 billion financial institution based in Brentwood with an 85-year history of business lending.
Aaron Houpis
The executive vice president and managing director of the new division who joined the bank in 2019.
Citizens Private Bank
A banking institution that expanded its footprint into Beverly Hills and Manhattan Beach last fall.
City National Bank
A competitor that increased its local presence by hiring 10 new bankers in August 2026.
The details
Banc of California developed this high-touch banking model by gathering direct feedback from existing clients and wealth managers. The new division aims to offer a tech-forward experience featuring premium deposit accounts, personal lending, lines of credit, and treasury services. These products are specifically curated for high-net-worth clients, a segment currently seeing increased activity from competitors like Citizens Private Bank and City National Bank.
Timeline
October 19, 2026: Banc of California launched its private banking division.
Fall 2025: Citizens Private Bank expanded into Los Angeles.
August 2026: City National Bank hired 10 new bankers.
Money Landscape
The expansion follows the industry-wide 7.5% annual revenue growth trend seen in private banking over the last five years. Banc of California's move reflects a broader competitive push by institutions to capture high-net-worth clients in established regional financial hubs.
High-net-worth households may benefit from increased competition as new banking options emerge for personalized lending and treasury solutions. Those considering new accounts should compare the specific terms and service tiers with a qualified financial advisor to ensure they align with their goals.
The takeaway
The entry of a new provider into the private banking market highlights the ongoing competition for high-net-worth deposits. If you are exploring new credit or deposit options, review your current service fees and lending rates to establish a baseline for evaluating new offers.
Further reading
For more on how banks tailor services for different clients, visit our Banking section.
Source note: This article includes information reported by Los Angeles Business Journal.
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