Opus Bank Announces Its PENSCO Trust Subsidiary Entered into Agreement to Become Successor Custodian for Morgan Stanley Retirement Account Clients Invested in Alternative Assets

IRVINE, Calif.--(BUSINESS WIRE)--$OPB #IRA--Opus Bank (“Opus”) (NASDAQ: OPB) announced today that its wholly-owned subsidiary, PENSCO Trust Company (“PENSCO”), a leading tech-enabled alternative asset IRA custodian, with approximately $11 billion of custodial assets and 43,000 client accounts with investments in approximately 40,000 unique assets comprised of private equity, real estate, notes, cash, and other non-exchange traded assets, has entered into an agreement to be appointed successor custodian fo