San Diego Private Bank, with about $116 million in assets, located another high-profile businessman to sit on its board of directors.
He’s Ernest Rady, chairman of American Assets Inc., a conglomerate that holds financial services, investment management and real estate businesses. The real estate unit controls some $2.5 billion in assets in the West. He’s also the former chairman and CEO of Westcorp, a publicly traded business that he sold in 2006.
Last year, Rady was ranked 10th on the San Diego Business Journal’s list of Wealthiest San Diegans with an estimated net worth of $260 million.
Rady joins another retired banker who was named to SDPB’s board earlier this month, Frank Mercardante.
An ardent philanthropist, his donations have been sufficient to have a Rady Children’s Hospital-San Diego and the UC San Diego Rady School of Management.
Founded in 2006, SDPB’s chairman is Selwyn Isakow, who is chairman and CEO of The Oxford Investment Group, a private equity firm.
— Mike Allen