Originally named the Overseas Bankers Association in California, the Association was organized in 1972 in San Francisco by a group of six bankers. In 1982, the name was changed to the International Bankers Association in California ("IBAC"), reflecting the global impact of foreign banking activity in California and the United States. In 2000, the name was changed to further reflect trends in international banking. The International Financial Institutions Association of California or "IFIAC"
as it was known, is a non-profit organization with over 40 members, including
foreign banks, domestic banks, securities firms, and professionals (lawyers,
accountants, consultants and commercial real estate agents), who have regular contact with the international banking community. The organization has since changed its name back to International Bankers Association of California.
IBAC is led by a Board of Directors representing both Northern and Southern California members. Board Members are elected annually by the full membership. Monthly membership luncheon meetings are held alternately in Los Angeles and San Francisco.