Los Angeles, CA, November 14, 2016 – Union Bank today announced the appointment of Adam Feit as a Managing Director and Los Angeles Market President for Commercial Banking. He replaces Karim Teymourtache, who will retire in December. Based in downtown Los Angeles, Feit reports to Scott R. Connella, Managing Director and Head of Commercial Banking for Southern California.
In this role, Feit will lead the bank's Middle Market and Business Banking strategy for the Los Angeles region. He will manage a team that provides financial products and services to publicly traded, private equity owned and closely held entities. This team of high-caliber professionals provides advisory services and seamless execution to corporate clients across all industries. Additionally, the team is able to deliver a high-level of expertise in the healthcare, technology, consumer & retail and not-for-profit arenas by bringing together Union Bank professionals with extensive experience serving the needs of senior leaders in those sectors. "Adam's appointment is a critical component of our growth strategy in California. Under his leadership, we will continue to enhance our offering while expanding our coverage of private equity firms," Connella said.
Feit joins Union Bank from Bank of America Merrill Lynch where he spent the last 13 years covering Large Corporate and Middle Market clients across a variety of industries. Prior to that, he was a management consultant with The Alcar Group, where he oversaw engagements with a number of Fortune 500 companies.
Feit received his MBA in Finance and Entrepreneurship from the Booth School of Business at the University of Chicago. He completed his undergraduate studies at the University of Wisconsin-Madison School of Business and is also a CFA charterholder.
About Commercial Banking
The Commercial Banking division at MUFG Union Bank, N.A focuses on companies on the West Coast with traditional Middle Market and Business Banking profiles, with revenues between $5 million to $500 million. The Commercial Bank offers a broad spectrum of commercial credit products including commercial loans and assets based loans, in addition to a full array of traditional commercial banking products including Treasury Management, derivatives, foreign exchange, Wealth Management, Trade Finance services, Global Business, Syndications, and more.
About MUFG Union Bank, N.A.
MUFG Union Bank, N.A., is a full-service bank with offices across the United States. We provide a wide spectrum of corporate, commercial and retail banking and wealth management solutions to meet the needs of customers. We also offer an extensive portfolio of value-added solutions for customers, including investment banking, personal and corporate trust, global custody, transaction banking, capital markets, and other services. With assets of $116 billion, as of June 30, 2016, 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: MTU), one of the world's largest financial organizations with total assets of approximately ¥298.2 trillion (JPY) or $2.9 trillion (USD)1, as of June 30, 2016. 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.
(1)Exchange rate of 1 USD=¥102.91 (JPY) as of June 30, 2016