Executive of the Month: Do, senior vice president, director of commercial real estate at East West Bank: “We should never stop learning”

Derrick Do, East West Bank

New York, NY The New York Real Estate Journal recently sat down for a question and answer session with Derrick Do. He is a senior vice president, director of commercial real estate (CRE) at East West Bank. He leads the bank’s commercial real estate team for the Eastern Region, which includes Greater New York, Boston and Atlanta markets. He oversees business development, client relationship and portfolio management, talent acquisition, and manages a team of seasoned commercial real estate bankers. Under his management, East West Bank eastern region CRE team’s total commitment growth has significantly increased over the past few years.

Q: Please share with us your experience at East West Bank, and what makes your team stand out in today’s commercial real estate industry.

A: It’s rewarding to experience the bank’s growth on the East Coast as well as leading the portfolio expansion of the CRE team.

The bank has a unique value proposition to add to this competitive and diverse market. We assess deals based on their merits, and deal size has ranged from sub $1 million to $35 million and above, covering financing on acquisition, repositioning, permanent or construction opportunities.

The most critical endeavor when I became the director of CRE was to build a reputable business platform. Attracting talented professionals looking for new challenging and growing career opportunities was just as important as onboarding new clients.

East West Bank Eastern Region’s CRE team.

We are proud of our commitment to speed and certainty of execution.  Our modus operandi is to go the extra mile to fully understand our clients’ needs.

Last year, we had a new client who sought financing on a leasehold interest acquisition of an office building and requested to close within 30 days. The short time frame posed a challenge for our team, as we also had to perform due diligence on its joint-venture partners. We worked around the clock to complete the necessary due diligence and ensured that the deal closed on time.

When it comes to commercial real estate, we do not believe in “one size fits all.” We strive to understand our clients and provide customized financing solutions to meet their specific needs.

Another unique value proposition that sets us apart from most regional banks is our cross border capability between China and the U.S. 

Q: How does the bank’s cross border capability help Chinese inbound investors into the U.S. market?

Do at monthly East West Bank Eastern Region’s Commercial Real Estate meeting.

A: We are one of a few U.S. commercial banks with a domestic banking license in China. This provides a great platform for us to better serve both U.S. and Chinese clients in both markets. Our cross border team has a bilingual and bicultural background to serve Chinese inbound investors and has the local expertise to help them navigate the new market.

The bank has a long history of serving Asian Americans throughout the key U.S. markets. With the waves of Chinese inbound investment into U.S. commercial real estate, we have seen the inbound Chinese investment trend mirror the growth of Asian American communities and overall U.S. real estate investment growth. With the bank’s existing network, we are in a great position to be the bridge between Chinese inbound investors and local U.S. commercial real estate markets. 

We believe the Chinese investment is here to stay, and we want to be the financial partner for both Chinese investors as well as U.S. developers who are interested in working with them. 

Q: Tell us a story about yourself and how you got into commercial real estate.

A: I had plans to follow my father’s footsteps in medicine – he was an M.D. and specialized in ophthalmology. Over time, I ended up developing a greater passion for finance and banking. I made the decision to switch careers early on and pursued an MBA in Finance. Following graduation, I spent the last decade in commercial real estate lending in the Greater Eastern Region, and this experience provided me a solid foundation for the next chapter of my career.

Do being interviewed during a speaking engagement on cross border financing.

I spent my childhood in Saigon, Vietnam and Paris, France, and share an appreciation for culture and life in both big and small cities. However, in my opinion, there is no place like New York. Moving here was one of the best decisions I have ever made.

I believe that the best is yet to come and we should never stop learning.

East West Bancorp, Inc. is the holding company for East West Bank with total assets of $33 billion as of June 30^th. East West Bank commenced operations in 1973 in Los Angeles, California. Through the years, it has grown into a full service commercial bank focused on the U.S. and Greater China markets. Today, East West Bank is among the top 30 largest banks in the U.S., one of the few U.S. banks with a full banking license in China, and is ranked by Forbes as the top 15 “Best Banks in America” for six consecutive years (2010-2015).

East West Bank is headquartered in Pasadena, California and has over 130 locations in the U.S. and Greater China. In the U.S., East West has branches in California, Georgia, Massachusetts, Nevada, New York, Texas and Washington. In Greater China, East West’s presence includes full service branches in Hong Kong, Shanghai, Shantou and Shenzhen, and representative offices in Beijing, Chongqing, Guangzhou, Taipei and Xiamen.