American Savings Bank Chief Financial Officer Retiring April 30

By Sonia Isotov

American Savings Bank today announced that executive vice president and chief financial officer Alvin Sakamoto will retire effective April 30, 2012, after 26 years with the bank.

“Those of us who have had the privilege of working with Alvin have great respect for his financial acumen, integrity and dedication during his 26 years’ of service to the bank.  He will continue to be a valued member of our American ohana,” said CEO Richard F. Wacker, the chief executive officer for American Savings Bank, in a written statement.

Sakamoto first joined American in 1986 as an assistant controller from accounting firm Peat Marwick & Mitchell (now KPMG) where he had served as American Savings Bank’s external auditor for four years.

He was promoted to vice president and controller in 1987; senior vice president of finance in 1997; and executive vice president of finance in 2004.

Sakamoto received his Bachelor of Science in Biology and Master’s in Accounting from the University of Hawaii at Manoa, and is a 1997 graduate of the Pacific Coast Banking School where he earned top honors.

Heather Schwarm, the bank’s senior vice president and treasurer, will assume the role of chief financial officer on May 1, overseeing the bank’s treasury, accounting, and financial planning and analysis functions.