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Thursday, February 19, 2004



Former Bankoh investment
exec retires from CPB


David Zerfoss, the chief investment officer of Central Pacific Bank, has retired from a top executive position at a Hawaii bank for the second time in a year.

The 57-year-old Zerfoss, who spent 34 years at Bank of Hawaii before stepping down last February, has retired from Central Pacific after just eight months on the job. He had been hired in June along with several other former Bank of Hawaii co-workers to create a new asset management division at Central Pacific.

Zerfoss, whose last day was Friday, cited personal reasons, saying he wanted to spend more time with his wife Jenny, who also just retired. Zerfoss previously was head of Bank of Hawaii's investment department.

Lorene Okimoto, one of the former Bank of Hawaii employees hired with Zerfoss, was appointed manager of Central Pacific's asset management division. Okimoto, who has worked directly with Zerfoss for nearly 15 years, will continue to oversee all staffing and departmental administration for the group.

Yvonne Lim, another former Bank of Hawaii employee, was named chair of the newly created senior investment strategy team. Lim also manages the fixed income area.

In addition to Okimoto and Lim, members of the strategy team include co-managers of the equity area, Scott Takemoto and Derwin Osada, both of whom are chartered financial analyst designation holders and former Bank of Hawaii employees; and Teresa Yee, a recent hire who most recently worked as vice president and director of equity research at Bank of Hawaii.

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