O'Melveny's Brian Brooks Named Vice Chairman of OneWest Bank

March 30, 2011



Piper Hall
O'Melveny & Myers LLP
202-870-1800  (cell)                                       

Julie Fei
O'Melveny & Myers LLP
213.440.7792 (cell)

WASHINGTON, DC ─ MARCH 30, 2011 ─ O’Melveny & Myers LLP partner Brian Brooks has been named Vice Chairman of OneWest Bank, FSB, (OneWest) the largest bank headquartered in Southern California. Brooks, managing partner of O'Melveny's Washington, DC office and head of the Firm's Financial Services Practice, has represented OneWest as outside counsel since early 2010. In his capacity as Vice Chairman, Brooks will oversee OneWest’s legal and government relations functions and will also be involved in a number of operational areas.


“From Brian's first day at O'Melveny as a summer associate to the day he made partner to his time as head of the DC office and the Firm's Financial Services Practice, he has shown great skill and leadership,” said Chair Arthur B. Culvahouse, Jr. “An outstanding lawyer and strategist, and one of the country's leading authorities on mortgage issues, he is a shining example of the best this Firm has to offer and we are delighted he is joining the OneWest Bank team. We look forward to continuing our relationship with the exceptional people at OneWest.”

About O’Melveny & Myers LLP’s Financial Services Practice
O’Melveny is a leader in the rapidly expanding and evolving financial services industry. We represent companies throughout this diverse field, including banks, insurance firms, broker-dealers, and loan originators and servicers, in regulatory, enforcement, and litigation matters.

About O’Melveny & Myers LLP
With approximately 900 lawyers in 14 offices worldwide, O'Melveny & Myers LLP helps industry leaders across a broad array of sectors manage the complex challenges of succeeding in the global economy. We are a values-driven law firm, guided by the principles of excellence, leadership, and citizenship. Our commitment to these values is reflected in our dedication to improving access to justice through pro bono work and championing initiatives that increase the diversity of the legal profession. For more information, please visit www.omm.com


The following press release was issued today by OneWest Bank:


PASADENA, CA (March 30, 2011) – OneWest Bank, FSB, one of the largest regional      banks in Southern California, today named Brian Brooks as a Vice Chairman.  Mr. Brooks will be based in OneWest’s corporate headquarters in Pasadena, California, and will assume the position effective May 2, 2011.


Mr. Brooks brings broad legal, regulatory, and financial policy experience to his position at OneWest.  Prior to joining OneWest, Mr. Brooks headed the Washington, D.C. office of the international law firm O’Melveny & Myers LLP, where he also chaired the firm’s financial services practice group and served as a member of the firm’s three-partner Executive Committee.  At O’Melveny, Mr. Brooks was involved in some of the most important financial regulatory and enforcement issues of the past decade, including representing former Federal Reserve Chairman Alan Greenspan and other clients before the Financial Crisis Inquiry Commission; negotiating the settlement of the largest financial privacy class action in U.S. history; and defending litigation and investigations brought by state attorneys general, federal agencies, and others.  Mr. Brooks has represented OneWest as outside counsel since early 2010.


“At a time when the banking industry faces a complex and evolving regulatory landscape, we are fortunate to have a nationally recognized thought leader like Brian join our team,” said Steven Mnuchin, Chairman of OneWest Bank. 


“Brian will add to the depth of the OneWest senior management team, and will play an important role in helping us execute on our strategy of becoming the leading regional bank headquartered in Southern California,” added Joseph Otting, OneWest’s President and Chief Executive Officer.


 “OneWest is on an important mission to work with its customers to bring growth to a region which has been severely impacted by the financial crisis, and its management team is second to none.  I look forward to working with OneWest’s employees, customers, and communities as we navigate the evolving regulatory landscape and build a strong and sustainable brand,” said Mr. Brooks.


About OneWest Bank, FSB

OneWest Bank, FSB is one of the largest Southern California headquartered banks and is focused on delivering personalized, relationship-based banking to its customers. The bank has 78 retail branches conveniently located throughout Southern California to serve consumers and businesses, small and large. With total assets of $27 billion, OneWest has the size and strength to offer a wide array of banking products and services and the stability to protect its depositors.  OneWest is an FDIC-insured institution and funds deposited in the bank are insured up to the FDIC’s insurance limit of $250,000 per depositor. Information about OneWest Bank can be found on the company’s website at www.owb.com.