Banc of California officially opened its new 40,000-square-foot downtown Los Angeles office last week, occupying the 34th floor of the 35-story tower located at 865 S. Figueroa St. Bank executives and local officials gathered for a ribbon-cutting ceremony at the newly branded property, which features the company name displayed prominently across the north and south sides of the building’s crown.
Ribbon Cutting at 865 S. Figueroa St.
Jared Wolff joined Los Angeles Mayor Karen Bass and Los Angeles County Economic Development Corp. Chief Executive Stephen Cheung for the ribbon-cutting event last week. The new outpost establishes a permanent workspace for commercial, middle market, and venture banking teams, along with global treasury management and corporate functions. Wolff stated in a release that the 11-year lease, announced nearly a year ago, positions the institution closer to regional clients.
Did You Know? Banc of California’s presence in the 35-story tower at 865 S. Figueroa St. follows a series of corporate shifts that included acquiring Pacific Western Bank in Beverly Hills during the 2023 banking crisis and relocating its base from Orange County to Brentwood.
Downtown Los Angeles Office Expansion and Regional Investment
Mayor Karen Bass pointed to the office opening as a key development for the city center during a competitive reelection campaign. The bank’s investment portfolio in the area also includes a $1 million donation to the local contract financing program designed to help small businesses compete for public contracts. The institution also contributed financial assistance following the January 2025 wildfires.
Jared Wolff and Karen Bass attend new downtown office opening
Who attended the grand opening of the new downtown office?
Jared Wolff participated alongside L.A. Mayor Karen Bass and Los Angeles County Economic Development Corp. Chief Executive Stephen Cheung.
What services will operate out of the 34th-floor location?
The 40,000-square-foot space houses teams focused on commercial banking, middle market banking, venture banking, global treasury management, and corporate functions.
When was the lease agreement initially announced?
The 11-year lease for the downtown location was announced not quite a year prior to last week’s grand opening.