Manufacturers Bank Elects Naresh Sheth
President & COO
October 11, 2011 01:17 PM Eastern Daylight Time
LOS ANGELES--(EON: Enhanced Online News)--Manufacturers Bank announced it has elected Naresh Sheth to
the office of President and Chief Operating Officer, effective October 1, 2011. Mr. Sheth who became a member of
the Board of Directors on October 1, 2011 will direct the daily activities of the Bank and supervise the management
of all Bank divisions.
Mr. Sheth, 56, has more than 30 years of banking experience. Since joining Manufacturers Bank in 1991, and after
returning in 2005, he has held various commercial banking positions including Executive Vice President and Chief
Credit Officer, and Senior Vice President, Asset Based Lending Manager.
Prior to joining Manufacturers Bank, Mr. Sheth worked nineteen years in a variety of commercial and private
banking positions with Bank of America, Citigroup, and Western Financial Bank.
“Naresh is very intimate with every aspect of Manufacturers Bank and has a wide range of commercial banking
experience,” said Mitsugu Serizawa, Chairman and Chief Executive Officer of Manufacturers Bank. “His broad
commercial credit, accounting, and management skills make him uniquely qualified to direct and coordinate the daily
activities of the Management Committee and Bank toward our established long-term growth objectives.”
Mr. Sheth holds Bachelor of Science degrees in Finance and Accounting from the University of Baroda, India and
Concordia University, Montreal, Canada, respectively, and is a Registered Industrial Accountant (RIA) having
satisfied the Academic and work related Program of the Society of Management Accountants, Quebec, Canada at
McGill University (similar to a Certified Management Accountant (CMA) in the USA).
Los Angeles-based Manufacturers Bank with $1.92 billion in assets is a subsidiary of Sumitomo Mitsui Banking
Corporation (SMBC). The Bank provides a full range of lending, deposit and cash management services to the
California commercial middle-market business community through 10 regional bank centers.
For more information, visit Manufacturers Bank’s Web site at www.manufacturers-ca.com and SMBC’s Web site
Anthony S. Fortunato, SVP
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Business Bank, Manufacturers Bank appoints new President, Naresh Sheth.
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