- Corporate Profile
- Corporate Governance
- Financial Documents
- Board of Directors
- Policy-Making Officers
- Diversity and Culture
- Corporate Social Responsibility
- Serving Communities
- Environmental Sustainability
- Social Media
UNION BANK TO OPEN FIRST COMMERCIAL BRANCH IN HOUSTON
For Immediate Release
SAN FRANCISCO – July 13, 2012 – Union Bank, N.A., continued its expansion in the vital Texas market by opening another commercial branch in the state – this one in Houston – as part of its national expansion strategy designed to better serve existing commercial banking and energy clients, and to build new relationships in the region. The branch accepts deposits from commercial customers and provides an array of corporate treasury services. Union Bank opened a commercial branch in Dallas in 2009, in New York City in 2011, and in Chicago last April.
“Texas is fundamental to our nationwide growth plans, and Houston is central to a crucial sector of the global economy – energy, which Union Bank has been involved in for decades,” said Masashi Oka, Union Bank president and chief executive officer. “It’s appropriate that we bolster our physical presence here as we deepen our energy-client relationships and extend our reach across the country.”
The bank has been lending to corporate customers in Houston for decades, providing a wide range of commercial banking services including treasury management, foreign exchange, custody, government services, and property management among others. Houston is the country’s fourth largest city and recognized worldwide for its importance to international trade and as a business hub of the energy industry.
“This new presence will add momentum to our current efforts with the energy industry in the Houston area and help us to meet our future growth targets for the large corporate markets,” said JoAnn Bourne, senior executive vice president and head of Union Bank’s global treasury management group.
Union Bank’s holding company, UnionBanCal Corporation, is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi, UFJ, Ltd. (BTMU), one of the world’s largest commercial banking companies with offices in 40 countries. Bourne leads a joint initiative with BTMU to provide deposit and cash management services for multinational companies. Union Bank’s new branch in Houston is within four blocks of BTMU’s Houston office.
“Our partnership with BTMU provides companies doing business overseas with a full complement of global financial management services and a vital understanding of the history, customs, regulations and operating systems of the global marketplace, particularly in Asia and Latin America, two of the fastest growing regions in the world,” said Bourne.
Union Bank’s credit ratings are among the highest of leaders in its peer group, with S&P Moody’s tier 1 short-term ratings of A-1/P-1 and long-term ratings of A+/A2 for Union Bank, and A+/Aa3 for BTMU.
About UnionBanCal Corporation & Union Bank, N.A.
Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $92.3 billion at March 31, 2012. Its primary subsidiary, Union Bank, N.A., is a full-service commercial bank providing an array of financial services to individuals, small businesses, middle-market companies, and major corporations. The bank operates 407 branches in California, Washington, Oregon, Texas, New York and Illinois, as well as two international offices. 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. Visit www.unionbank.com for more information.