Bita Ardalan to Retire from Union Bank; Scott Connella to Become Acting Head of Commercial Banking
LOS ANGELES, CA (October 19, 2021) - Union Bank announced today that Bita Ardalan will retire from the company in December 2021 and that Scott Connella, Market President for Commercial Banking’s Southern California Division, will succeed Ardalan as Acting Head of its Commercial Banking segment, effective December 1. Connella will report to Union Bank President Greg Seibly and serve on the company’s Regional Bank Executive Team.
Ardalan plans to retire following a successful 35-year career with Union Bank. She has been in her current role since 2015 and first joined the company in 1986 as part of the Union Bank Management Training Program. She has held a number of roles within the company, including as Head of Middle Market Banking, and she founded and oversaw the bank’s National Specialized Lending Group.
“On behalf of the entire management team, I thank Bita for her many years of service with the company and the contributions she has made along the way. She is an outstanding business leader and has been an important partner to me. She has been an especially strong voice on the Regional Bank Executive Team, and her common-sense approach to business and client-centric focus will be missed,” Seibly said.
“It’s been a privilege spending my entire career with Union Bank, and I’m proud to have led the Commercial Banking team these last seven years,” Ardalan said. “We’ve done meaningful work – including building a robust client portfolio, recruiting scores of top-flight talent and accelerating growth through multiple industry specializations.”
“We have a talented leadership team with a strong client focus, and Scott has the vision and team support to build on our proven success for the future,” Ardalan added. “This was the right time for my family and me to make this decision. The Commercial Banking team will be in great hands with Scott.”
Connella is currently the Market President for Commercial Banking’s Southern California Division, which includes Los Angeles, the San Fernando Valley, Orange County, San Diego and the Inland Empire. He has held a number of roles throughout his 34-year career at Union Bank. He was a Relationship Manager and later Regional Vice President in the Los Angeles headquarters prior to being promoted to his current role. Connella started his career with Union Bank in 1987 when he was accepted into the Commercial Banking Training Program.
“The Union Bank Commercial Banking business is a strong franchise today, and I’m honored to lead this market-leading team of bankers,” Connella said. “I believe we have a significant opportunity to grow and continue to improve the business, and I will work closely with Bita during this transition to ensure we focus on our key strategic priorities so we can stay nimble, adapt to ongoing market changes and make sure our business is structured to accomplish these objectives in the future.”
“Scott’s broad experience in Commercial Banking and his longstanding relationships with Union Bank clients and colleagues will serve him well as acting head of the business,” Seibly said. “He’s built a strong track record during his time as Union Bank, and I know he’ll bring both consistency and a fresh perspective to the role.”
About MUFG Union Bank, N.A.
As of June 30, 2021, MUFG Union Bank, N.A. operated 305 branches, consisting primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York, and Georgia. We provide a wide spectrum of corporate, commercial, and retail banking and wealth management solutions to meet the needs of our clients. We also offer an extensive portfolio of value-added solutions for clients, including investment banking, personal and corporate trust, global custody, transaction banking, capital markets, and other services. With assets of $133.2 billion, as of June 30, 2021, MUFG Union Bank has strong capital reserves, credit ratings, and capital ratios relative to peer banks. MUFG Union Bank is a proud member of the Mitsubishi UFJ Financial Group (NYSE: MUFG), one of the world’s largest financial institutions with total assets of approximately ¥362.1 trillion (JPY) or $3.3 trillion (USD), as of June 30, 2021. The corporate headquarters (principal executive office) for MUFG Americas Holdings Corporation, which is the financial holding company, and MUFG Union Bank, is in New York City. The main banking office of MUFG Union Bank is in San Francisco, California.