UMPQUA BANK EXPANDS PHOENIX MIDDLE MARKET TEAM

Rhea-AI Summary

Umpqua Bank has enhanced its Phoenix middle market banking team with the addition of five bankers to better serve mid-size companies in Arizona. This expansion reflects Umpqua's commitment to growing its presence in the Western U.S., complementing its recent entry into Colorado. Led by market director Kevin Gillette, the new hires bring extensive banking experience across various sectors, aimed at strengthening client relationships and enhancing customer success.

Positive

• Expansion of Phoenix-based middle market banking team with five new bankers enhances Umpqua's service capacity.
• Strategic move supports Umpqua's growth in the rapidly developing Arizona economy.
• Hiring experienced bankers aims to improve client relationship management and operational efficiency.

Negative

• None.

Addition of five bankers accelerates capacity to support mid-size companies in Arizona

PORTLAND, Ore., Sept. 8, 2022 /PRNewswire/ -- Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ), today announced the expansion of its Phoenix-based middle market banking team with the addition of five new members to support its rapid growth in serving mid-size companies across Arizona.

Today's announcement marks the latest development in Umpqua's Western U.S. expansion. Late last year, Umpqua hired long-time Phoenix banking leader Kevin Gillette as market director to build its middle market operation in Arizona. The bank also recently expanded into Colorado as part of its commitment to supporting high-growth companies in communities throughout the Mountain West.

"Phoenix in one of the fasting growing, most dynamic economies in the country right now, and Umpqua is thrilled to be a growing part of the business community here," said Gillette. "Our combination of size, expertise, and personalized approach to supporting our customers has been attractive to mid-size companies in the region, and these five talented additions to our team will enhance our contribution to customer success as we grow our market presence."

Joining Umpqua's growing middle market banking team under Gillette's leadership are the following bankers:

• Dan Slocum, senior vice president and senior relationship manager. Slocum has more than a decade of experience in banking serving as a trusted advisor to mid-sized companies and providing strategic insights around capital deployment, working capital and cash management. He has an MBA from Arizona State University and bachelor's degree in finance from Eastern Michigan University.
  
  
• Alain Pelanne, senior vice president and senior relationship manager. Pelanne brings years of banking and health care sector experience with a focus on credit risk and analysis. He has an MBA and bachelor's degree in accounting from the University of Virginia.
  
  
• Michael Paduone, senior treasury management consultant, global payment and deposits. With more than two decades of banking experience, Paduone advises middle market health care and education clients on improving financial control, reducing fraud risk reduction, and improving capital management. Paduone has an MBA and bachelor's degree from Pennsylvania Western University. He also holds the designations of ACH Professional and Certified Treasury Professional.
  
  
• Jonathan Akongo, senior vice president and client solutions manager, corporate banking. Akongo has more than 25 years of experience in credit and commercial lending, primarily for middle market companies, including loan structuring, syndications, loan workouts and special assets management. He holds a master's degree in public administration from the University of Phoenix and a Bachelor of Commerce degree in marketing from Makerere University in Uganda.
  
  
• Ramy Michael, middle market underwriter. Michael specializes in financial statement analysis, credit analysis, and credit risk. He holds a Bachelor of Science degree in finance from Arizona State University.

About Umpqua Bank

Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation, and operates in Arizona, California, Colorado, Idaho, Nevada, Oregon, and Washington. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including The Wall Street Journal, The New York Times, BusinessWeek, Fast Company and CNBC. The company has been recognized for eight years in a row on FORTUNE magazine's list of the country's "100 Best Companies to Work For," and was recently named by The Portland Business Journal the Most Admired Financial Services Company in Oregon for the 17h consecutive year. In addition to its retail banking presence, Umpqua Bank owns Financial Pacific Leasing, Inc., a nationally recognized commercial finance company that provides equipment leases to small businesses.

View original content to download multimedia:https://www.prnewswire.com/news-releases/umpqua-bank-expands-phoenix-middle-market-team-301620673.html

SOURCE Umpqua Bank

FAQ

What recent changes has Umpqua Bank made to its team in Phoenix?

Umpqua Bank has added five bankers to its Phoenix middle market banking team to enhance support for mid-size companies in Arizona.

Who is leading Umpqua Bank's expansion efforts in Arizona?

Kevin Gillette is the market director leading Umpqua Bank's expansion efforts in Arizona.

What does Umpqua Bank's recent expansion indicate about its growth strategy?

The expansion reflects Umpqua Bank's commitment to increasing its presence in high-growth areas like Arizona and Colorado.

How does Umpqua Bank plan to support mid-size companies in Arizona?

Umpqua Bank plans to support mid-size companies by leveraging the expertise of its new bankers to enhance customer success.

What experience do the new bankers at Umpqua Bank bring?

The new bankers bring extensive experience in banking, credit analysis, treasury management, and commercial lending.