RBB Bancorp rises after CEO resigns following investigation
11/04/2022 15:44
** Shares of RBB Bancorp RBB.O up nearly 2% at $23.45
** Co, which is in banking and asset management business
through its subsidiaries, said CEO and president Alan Thian has
resigned, effective immediately
** Resignation followed internal investigation by special
committee of directors, RBB says urn:newsml:reuters.com:*:nBw9wzV1xa
** Investigation found Thian had violated company policies,
including those relating to "personnel decisions"
** Violations, however, did not have any overall financial
impact on co - RBB
** Thian, who has been on paid leave of absence since Feb
2022, could not be reached for comment
** Since Thian went on his paid leave, RBB has lost nearly a
tenth of its market cap
** Other U.S. banks are also up on Monday, as U.S. Treasury
yield curve steepened urn:newsml:reuters.com:*:nL3N2W92MW
(Reporting by Niket Nishant in Bengaluru)
((Niket.Nishant@thomsonreuters.com;))