Thomas J. Tolda served as the CEO of East-West Bancorp from April 2008 until his resignation in January 2010. During his leadership, he oversaw the bank's operations and played a role in navigating the challenges posed during the financial crisis....
Thomas J. Tolda served as the CEO of East-West Bancorp from April 2008 until his resignation in January 2010. During his leadership, he oversaw the bank's operations and played a role in navigating the challenges posed during the financial crisis. Interested in finance, Tolda joined East-West Bank in a time when performance metrics were strict due to regulations under the Troubled Asset Relief Program (TARP). Despite this, he received a considerable compensation package, including a notable signing bonus of $210,000 and various perks during his tenure. Tolda resigned for personal reasons just before his team could roll out any new initiatives. Notably, no stock grants or bonuses were awarded during 2010, which reflects the unstable environment many financial institutions faced at the time. His departure opened the floor for Irene H. Oh to take over as CFO, marking a shift in the company’s financial direction. Overall, Tolda’s brief time as CEO provides insights into the complexities and pressures top executives face during times of financial turbulence.