At the same time, CCBI has formed CCAM MBS Advisors I Inc., which is a wholly owned subsidiary of the asset management unit. Stephen Gordon, chairman and CEO of parent CCBI, says the formation of the new subsidiaries is designed to take advantage of the company's experience in managing portfolios of US government and agency mortgage-backed securities. Doing so will enable the company to offer investment opportunities to CCBI clients, who include real estate investors, middle market commercial businesses and high net-worth individuals, families and professionals.
Publicly held CCBI, based in Irvine, reported total assets of $1.2 billion as of March 31. The company's banking subsidiary is Commercial Capital Bank, which operates offices at the CCBI headquarters in Irvine as well as in 10 other California locations.
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