Bank of Marin Announces Retirement of Stuart Lum from Boards of Directors
Recognized for Corporate Development and Finance Expertise and Executive Leadership
NOVATO, CA – (January 28, 2016) – Bank of Marin Bancorp (NASDAQ: BMRC) has announced the retirement of Stuart Lum from the Company’s Boards of Directors after 16 years of service. Mr. Lum joined the board in 1999, and served as Chairman in 2014.
Spanning a 40-year career, Mr. Lum’s business interests have taken him around the world. As president & CEO of investment company Edgewood Pacific, Inc., he is engaged in mortgage lending, real estate and business development in Hawaii and California. Prior to that he was vice president and founder of Veracast Communications, an internet communications company, and director of a Hong Kong-based company involved in the financing and development of infrastructure projects in China and southeast Asia.
Since joining the Board, Mr. Lum has been a member of the Bank’s Asset/Liability Management Committee, serving as Chair of the Committee from 2001 to 2005. He became a member of the Audit Committee in 2003, holding the chairmanship from 2005 to 2014. He also served as a member of the Executive, Nominating and Governance Committees since 2009, and has served as Chair of the Executive Committee since 2014.
Born in Stockton, Mr. Lum has received three degrees from Stanford University, including an MBA from the Graduate School of Business, a Master of Science in health services administration from the School of Medicine and an undergraduate Bachelor of Arts with a major in economics. He has been a resident of Marin County since 1990, serving as a trustee of the Stanford Club of Marin, and is active in many other community affairs.
“Stuart served the Bank of Marin with distinction, bringing his business acumen and leadership to the organization both as a Director and Chairman of the Board,” said Brian Sobel, Chairman of the Board. “Stuart will be greatly missed in the boardroom as he epitomizes all that is good in the management of a company. We wish him well and thank him for his many contributions to the Bank.”