Banc of California, the holding company for Pacific Trust Bank and The Private Bank of California, has named Eric Holoman, president of Magic Johnson Enterprises, as a board director.

Holomon, who manages MJE’s day-to-day operations and oversees its investment funds, has also been appointed as chair of Banc of California’s new community reinvestment act committee.

Prior to joining MJE, Holoman held private banking roles at Bank of America and Wells Fargo, including as head of Wells Fargo’s private mortgage bank in Los Angeles, CA.

Banc of California chief executive, Steven Sugarman, said the firm will benefit from Holoman’s experience in providing financial services to small- and middle-market business and high net worth families.

New York-listed Banc of California, through its banking subsidiaries Pacific Trust Bank and The Private Bank of California, has over $3 billion in consolidated assets.