The Bank of California has announced that...

The Bank of California has announced that it is seeking a buyer for its corporate trust business. The bank administers more than $14 billion in corporate trust debt. No price has been determined as yet. The sale will be subject to regulatory approval. Executive Vice President Ralph J. Rasmussen, head of the bank’s Trust & Investment Management Group, said the action is consistent with the bank’s strategic plan to focus its growth on its core trust and investment management services.