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UNION BANK EXPANDS IN SOUTHEAST BY OPENING COMMERCIAL BANKING BRANCH IN ATLANTA
For Immediate Release
SAN FRANCISCO – December 12, 2013 – Union Bank, N.A., has expanded its national outreach in the Southeast by providing an enhanced suite of products and services central to middle market companies and multinational corporations from its centralized branch in the Buckhead financial district of Atlanta. The branch will now accept deposits from commercial customers and will provide corporate treasury services.
Prior to establishing a branch, Union Bank opened an Atlanta office led by Senior Vice President Mark Brown last February and has seen a steady growth in business relationships. The new branch continues an expansion in the bank’s commercial banking national outreach that began with new branches opening in Dallas in 2009, followed by New York in 2011, and Houston and Chicago in 2012.
Union Bank has been lending to corporate customers in the Southeast for more than 25 years, providing a wide range of commercial banking services including treasury management, foreign exchange, interest rate risk management, custody, government services, and corporate and institutional trust, among others. The new commercial branch will provide a complete suite of banking services to companies conducting business in Atlanta and the greater Southeast region, as well as to multi-national corporations.
Union Bank currently employs more than 75 people in metro Atlanta, following its acquisition in 2012 of Norcross-based Smartstreet®, which provides banking services nationwide to homeowners associations (HOA) and community association management companies. Union Bank is among the nation’s leaders in providing lockbox, electronic receivables processing, and other financial services to HOA management companies.
“Atlanta is the base of our commercial business operations in the Southeast and we’re looking forward to providing our clients more personalized services and customized solutions to meet the working capital management and asset servicing needs of their company,” said Ranjana Clark, senior executive vice president and head of Transaction Banking for Union Bank and The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) in the Americas.
Union Bank’s holding company, UnionBanCal Corporation, is a wholly-owned subsidiary of BTMU, one of the world’s largest commercial banking companies with offices in more than 40 countries. Clark leads a joint initiative with BTMU to provide deposit and cash management services for multinational companies.
“Union Bank’s financial strength allows us to fund new lending relationships to help companies in the Southeast and nationwide to grow their businesses,” said Senior Executive Vice President Michael Stedman, head of Union Bank’s commercial banking group. “Our regulatory capital ratios far exceed the federal thresholds which have resulted in solid investment grade credit ratings from each of the three major rating agencies. Union Bank’s long-term rating at Standard & Poor’s is A+, Moody’s is A2, and Fitch is A.”
About UnionBanCal Corporation & Union Bank, N.A.
Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $105.5 billion at September 30, 2013. Its primary subsidiary, Union Bank, N.A., provides an array of financial services to individuals, small businesses, middle-market companies, and major corporations. The bank operated 422 branches in California, Washington, Oregon, Texas, Illinois, and New York as well as two international offices, on September 30, 2013. UnionBanCal Corporation is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a subsidiary of Mitsubishi UFJ Financial Group, Inc. Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG, NYSE:MTU), one of the world’s largest financial organizations. In July 2013, American Banker Magazine and the Reputation Institute ranked Union Bank #1 for reputation among its customers. Visit www.unionbank.com for more information.