The Los Angeles City Council on Friday unanimously approved the appointment of Sung Won Sohn to the Port of Los Angeles Board of Harbor Commissioners.
Sohn is an endowed professor of economics for the Martin V. Smith School of Business and Economics at California State University, Channel Islands, and vice chairman of Forever 21, a multinational clothing retailer.
Previously, he was president and chief executive officer of Los Angeles-based Hanmi Bank. From 1998 to 2005, he was the executive vice president and chief economic officer at Wells Fargo Banks, responsible for macroeconomic forecasting, monetary policy and regulatory matters.
Sohn was named one of the five best economic forecasters in the country by the Wall Street Journal
in 2010 and also served as senior economist on the President's Council of Economic Advisors during the Nixon Administration, where he was responsible for economic and legislative matters pertaining to the Federal Reserve and financial markets.
In 2002, he was named to TIME Magazine's
Board of Economists and was previously selected by Bloomberg News
as one of the five most accurate forecasters in the United States.