Heritage Commerce Corp appoints Christopher J. Abate to Board of Directors.

Heritage Commerce Corp and Heritage Bank of Commerce have appointed Christopher J. Abate to their Board of Directors, expanding it to nine members. Abate will serve on the Audit and Personnel and Compensation committees. The appointment is seen as a strategic move to support the company's plans.

Heritage Commerce Corp (NASDAQ: HTBK) has announced the appointment of Christopher J. Abate to its Board of Directors, expanding the board from eight to nine members. Abate, who currently serves as CEO of Redwood Trust, will also join the Board's Audit Committee and Personnel and Compensation Committee [1].

Abate brings over 20 years of financial services experience, having served in various leadership roles at Redwood Trust since 2006, including CEO, President, CFO, and Controller. His appointment adds significant expertise in real estate, finance, and complex markets to Heritage's board structure [1].

“We are pleased to welcome Chris to the Company’s Board of Directors and look forward to working with him as we pursue our strategic plans,” said Julie Biagini-Komas, Chair of the Board. “His deep experience in real estate and finance, coupled with his extensive leadership skills and insight, will be a valued addition and complement the contributions of the other members of our Board” [1].

“Chris is an accomplished leader with extensive experience in complex markets, product innovation, and platform development,” stated Clay Jones, President & CEO. “His expertise and collaborative approach position him as an outstanding leader that can provide value for both our Board and shareholders” [1].

Heritage Commerce Corp, a bank holding company established in October 1997, is the parent company of Heritage Bank of Commerce, established in 1994 and headquartered in San Jose, CA. The bank offers full-service branches in numerous locations throughout the Bay Area and beyond. Heritage Bank of Commerce is an SBA Preferred Lender, and its subsidiary, Bay View Funding, provides business-essential working capital factoring financing to various industries across the United States [1].

This strategic move is seen as a significant addition to Heritage's leadership team, bringing a wealth of experience and knowledge in real estate and finance to support the company's plans. Abate's appointment is expected to enhance the board's ability to navigate complex markets and drive strategic initiatives [1].

References:
[1] https://www.stocktitan.net/news/HTBK/heritage-commerce-corp-and-heritage-bank-of-commerce-announce-at6hfwtdzh4z.html