PORTLAND, Ore., Sept. 20, 2017 (GLOBE NEWSWIRE) -- Umpqua Holdings Corporation (NASDAQ:UMPQ), parent company of Umpqua Bank and Umpqua Investments, announced today that Dave Shotwell has been named Umpqua Bank’s first chief risk officer. In this new position, Shotwell will retain his role as chief credit officer and part of the leadership team reporting to Cort O’Haver, Umpqua’s president and chief executive officer. In addition to continuing to oversee the company’s credit administration, Shotwell will assume responsibility for its enterprise risk management program, including data governance, compliance and information security.
According to O’Haver, adding a chief risk officer to Umpqua’s leadership team reflects the bank’s evolution as a financial institution. Widely recognized as one of the world’s most innovative banks, Umpqua recently launched its “Next Gen” initiative, a comprehensive, multi-year vision for strategic growth.
“At $25 billion in assets, Umpqua has reached a size and market position that require a strong, integrated risk management program in order to achieve our long-term financial performance goals,” said O’Haver. “Dave brings terrific broad-based experience across a variety of risk management roles to this position, combined with an understanding of how the different components work together. Under his leadership, Umpqua will continue developing a smart, cohesive approach that advances the company’s balanced growth strategy.”
Shotwell has 35 years of diversified banking experience including 15 years with Umpqua Bank, where he has served as chief credit officer since 2015. In addition, Shotwell has lending and risk management experience in credit administration, commercial banking, consumer lending and commercial real estate finance. He has held various leadership positions with the Risk Management Association (RMA), and is currently a member of the RMA’s mid-tier bank council. Shotwell studied economics and finance at the University of Washington and is a graduate of executive programs at the University of California, Davis, and Pacific Coast Banking School.
About Umpqua Holdings Corporation
Umpqua Holdings Corporation (NASDAQ:UMPQ) is the parent company of Umpqua Bank, an Oregon-based community bank recognized for its entrepreneurial approach, innovative use of technology, and distinctive banking solutions. Umpqua Bank has locations across Idaho, Washington, Oregon, California and Northern Nevada. Umpqua Holdings also owns a retail brokerage subsidiary, Umpqua Investments, Inc., which has locations in Umpqua Bank stores and in dedicated offices in Oregon. Umpqua Private Bank serves high net worth individuals and non-profits, providing trust and investment services. Umpqua Holdings Corporation is headquartered in Portland, Oregon. For more information, visit www.umpquabank.com.
Source: Umpqua Holdings Corporation