IRVINE COMPANY, EDWARDS, JP MORGAN NAMED “2011 PICKS TO WATCH”
Congratulations to the OCBC Members who were selected for Orange County Business Journal’s “2011 Picks to Watch” list. The Irvine Company was recognized as “Real Estate’s Company to Watch” for its success in development, acquisitions and lease transactions over the past year. One of the company’s most notable highlights of the year is the building of a new office tower in Newport Center as the headquarters for investment manager Pacific Investment Management Co. The Irvine Company is also planning to build new offices, and possibly apartments, in Silicon Valley. The $24 million renovation of Pacific Arts Plaza in Costa Mesa, and the lease signing of CoreLogic Inc. in the Irvine Spectrum are also noteworthy highlights of the year for the company.
Michael Mussallem, CEO of Edwards Lifesciences, was recognized as “Healthcare’s Person to Watch” for the company’s milestone success this year with the FDA approval of Edwards Sapien replacement heart valve for domestic use. The domestic market is estimated to be worth up to $150 million to $250 million in annual sales for the company in the first year. Sapien and related valves are seen as the biggest developments in the industry in years, with the potential to open up the market to people who can’t handle traditional open-heart surgery.
JPMorgan Chase & Co. was recognized as “Finance’s Company to Watch” as it continues to be a leader in commercial banking in Orange County with about 22% of the county’s market share. Chase held local deposits of $6.7 billion as of June 30, 7% more than the previous year. That boosted its share of all local deposits in the market to 9%, a 1% increase over last year. Chase as expanded its physical operations this year with ten new offices, while rivals trimmed branches. Chase now has a total of 73 local branches, adding about 300 employees over the year. For more information contact Celeste Signorino, Vice President of Investor Relations and Business Development.