Procurement News Notice |
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| PNN | 10145 |
| Work Detail | Irvine, Calif.-based Commercial Bank of California, a BauerFinancial Five-Star Superior Bank, has opened a new regional office in Santa Monica. This is the first new branch opening since the completion of the merger with National Bank of California earlier this year. “Santa Monica is very a special place for Commercial Bank of California. Our connection with this community is very strong,” said CBC president and CEO Ash Patel. “Not only do we have relationships here with local residents and small business owners that go back decades, but the trajectory of Santa Monica as a hub of innovation is uniquely aligned with our mission as a bank founded by entrepreneurs, for entrepreneurs.” RiskSense Secures $7 Million Investment RiskSense Inc., a pro-active cyber risk management company, has closed a $7 million round of funding led by Paladin Capital Group. The investment will help RiskSense continue its rapid growth by expanding its sales and marketing efforts, as well as broadening and accelerating product development. Paladin Capital Group principal Mourad Yesayan will join RiskSense’s board of directors. “With RiskSense, enterprises and governments are finally able to manage cyber risk, quickly orchestrate remediation and monitor the results in the context of the organization’s business goals,” said co-founder and CEO Dr. Srinivas Mukkamala. “This round of financing will help us invest in the resources we need to execute our vision even more rapidly and broadly – and capture more market share.” RiskSense was founded as a technology transfer from New Mexico Institute of Mining and Technology to commercialize the university’s cyber security research. The advanced cyber research programs at NMT, led by the founders of the company, were funded in partnership with the U.S. Department of Defense and U.S. Intelligence Community. After validation of the research and technology for both commercial and government applications, the company was spun out of NMT. ROTH Capital Partners Expands Technology ROTH Capital Partners, a full service investment bank, has announced that Suji Desilva has joined the firm as Senior Research Analyst covering semiconductors and a broader range of technology-related sectors. The hire is expected to expand technology. Desilva was previously at Topeka Capital Markets, ThinkEquity and Kaufman Brothers. The Columbia Business School and Cornell University graduate said, “I have always admired the ROTH team and brand throughout my career, and am eager to reconnect with game changing emerging growth tech companies that I believe are served incredibly well by the ROTH platform.” N.C. City May Get Sister City in India Cary, N.C., may soon build a new sister-city relationship with Wardha, India. The development came after the proposal received support at a recent council meeting. The Cary council unanimously supported allowing the Sister Cities Association of Cary, a nonprofit dedicated to building relationships with international communities, to continue seeking that relationship. Wardha's population was about 106,500 people in 2011. Certain criteria must be met before the relationship can be voted on by the Sister Cities Association of Cary board and town staff. It will then return to the council to finalize the relationship. Several of the council members spoke in support of creating a relationship with an Indian city because of Cary’s growing Indian American population. Hersha Hospitality Trust Closes $200 Million Loan Hersha Hospitality Trust, owner of upscale hotels in urban gateway markets, announced the company closed on a new $200 million senior unsecured term loan. The new term loan, together with the company’s existing term loans and revolving line of credit, expands its senior unsecured borrowing capacity from $800 million to $1 billion before taking into account any draws or pay downs. “We welcome our lending group’s continued support of Hersha’s growth initiatives and strategic direction. The new term loan sustains the significant efforts undertaken to optimize our balance sheet and provides additional flexibility to execute our business plan,” stated CFO Ashish R. Parikh. At closing, $50 million was advanced to the company as a single draw. The remaining $150 million will be available to the company on a delayed draw basis up to 9 months after the closing date in one or more advances. The company will utilize the term loan to refinance existing indebtedness, as well as for the repayment of transaction expenses, general corporate purposes, potential acquisitions and capital expenditures. Dallas Bank Awards $7.8M in Affordable Housing Grants The Federal Home Loan Bank of Dallas announced that, in partnership with its member financial institutions, it has awarded nearly $7.8 million in Affordable Housing Program grants to 27 projects, primarily within its five-state District. AHP funding is utilized for a variety of projects, including home rehabilitation and modifications for low-income, elderly and special-needs residents; down payment and closing-cost assistance for qualified first-time homebuyers; and the construction of low-income, multifamily rental communities and single-family homes. “FHLB Dallas’ member institutions are an integral part of affordable housing development in their communities,” said FHLB Dallas president and CEO Sanjay Bhasin. “Their membership in the bank opens the door to the AHP and other grant programs that annually provide millions of dollars for housing in our district.” The 2016 grants will result in the creation or rehabilitation of 1,499 housing units within FHLB Dallas’ District of Arkansas, Louisiana, Mississippi, New Mexico and Texas, as well as one state outside of FHLB Dallas’ District in which its members do business. Tech Mahindra launches Delivery Center in Cincinnati Tech Mahindra, a digital transformation, consulting and business re-engineering company, announced that it has launched its 17th Delivery Center in Cincinnati Blue Ash Area to primarily serve its customers with export control services within the A&D Sector. This center is registered with the Department of Defense and this would be Tech Mahindra’s first ITAR capable center in the U.S. The center will primarily be leveraged to provide engineering, big data and analytics services to a large conglomerate in the region and also other customers in the U.S. “We are excited to be here in Cincinnati and bring more jobs. Thanks to Mayor Lee Czerwonka and city of Blue Ash for the warm welcome” said Manoj Chugh, president of enterprise business at Tech Mahindra. “We would like to leverage this center to deliver ITAR compliant services in near future, thereby strengthening Tech Mahindra’s ability to serve aerospace and defense customers requiring export control services.” |
| Country | United States , Northern America |
| Industry | Financial Services |
| Entry Date | 15 Oct 2016 |
| Source | http://www.indiawest.com/news/business/business-briefs-commercial-bank-of-california-establishes-new-regional-office/article_4ec5d700-76dd-11e6-a669-13f718e6a120.html |
