PORTLAND, Ore., May 15, 2017 (GLOBE NEWSWIRE) -- Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ:UMPQ), announced today that it has hired Kent Grubaugh to oversee the company’s wealth management division. In this role, Grubaugh will oversee and expand the private banking and investment management services Umpqua offers to high net worth individuals and families, professional services firms and select non-profit organizations.
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“Umpqua has a strong retail and commercial banking presence in some of the west coast’s fastest growing markets, and views wealth management as an important counterpart to a bank’s commercial and corporate banking capabilities,” said Tory Nixon, executive vice president and head of commercial banking and wealth management. “With Kent’s deep experience working with high net worth individuals and families, we’ll be able to expand our private banking and investment offerings to augment our commercial and corporate banking expertise and create an integrated customer experience across all areas.”
Grubaugh brings more than thirty years of banking, investment management and leadership experience to Umpqua. Previously, he served as senior vice president and region manager for City National Bank’s private banking group in Northern California, Reno and Minneapolis. Before joining City National, Grubaugh served as a regional director of private banking for Wachovia Bank, and previously served for twenty years with Bank of America in various leadership and wealth management roles.
Grubaugh holds a Bachelor of Science degree in Business Administration from San Diego State University as well as a Certificate in Personal Financial Planning from University of California, Los Angeles, and is active in a variety of civic and community organizations.
About Umpqua Bank
Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation, and has locations across Idaho, Washington, Oregon, California and Northern Nevada. Umpqua Bank has been acknowledged 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 twelfth 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.
Umpqua Holdings also owns a retail brokerage subsidiary, Umpqua Investments, Inc., which offers services through Umpqua Bank stores and in dedicated offices throughout Oregon. Umpqua's Wealth Management Division serves high net worth individuals and nonprofits by providing customized financial solutions and offerings. Umpqua Holdings Corporation is headquartered in Portland, Ore. For more information, visit http://www.umpquabank.com.
Source: Umpqua Holdings Corporation