Orange County-based Opus Bank has announced that it is opening a new media and entertainment banking unit to provide financing to an array of media and entertainment companies in television, music, digital media, broadcasting, sports and film.
Heading up the unit will be Jeffrey Zaks, a 12-year banking veteran, who previously worked at CIT Bank, serving as vice president of media and entertainment finance. Before that, Zaks had been at OneWest Bank, which was acquired by CIT in August of last year.
Michael Allison, co-president of Opus and president of the Commercial Bank, said he expected Zaks to help build a substantial presence for Opus in the entertainment field “as we further execute on our Commercial and Specialty Banking focused niche strategy and leverage our deep banking presence up and down the West Coast.”
Zaks’ title at Opus will be senior managing director, head of media and entertainment banking. According to the announcement, Zaks sourced, structured and underwrote approximately $1 billion of transactions for CIT’s Media and Entertainment Finance Group. He has a total of seven years working within the media and entertainment industry, most recently with Disney ABC Television Group. He sought and negotiated new opportunities for the digital media group at ABC.
He previously worked at Summit Entertainment, Endemol USA and 2929 Productions after starting his career at the William Morris Agency. He holds a B.A. in business administration from UC Davis and an MBA, with honors, from Pepperdine University’s Graziadio School of Business and Management.