PORTLAND, Ore.--(BUSINESS WIRE)--
Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ),
has established an international banking division in its San Francisco
commercial offices to serve the financing needs of small and
middle-market companies involved in international trade. The bank named
Anthony Oriti, an international trade finance executive with more than
30 years of industry experience, to lead the new venture.
"Many businesses choose to bank with a local bank that is invested in
the community, yet also have a need for international banking services.
By establishing an international banking division, our customers now
have access to financial resources with global reach," said Ray Davis,
president and CEO of Umpqua Bank. "We are pleased to welcome Anthony
Oriti to Umpqua and are confident that his wealth of expertise in
international trade services will set Umpqua apart from the field in
this exciting move to connect our community based services to the global
Umpqua's international banking division will serve businesses throughout
the Umpqua footprint with a full range of trade finance products and
services. As a boutique office, the division will have the capability to
provide personalized, responsive service. As part of one of the largest
community banks in the region the division will also have the ability to
offer 24-hour turnaround for certain document services and same-day for
wires and foreign exchange services, saving clients time and money.
Trade finance services offered by Umpqua's international banking
division will include: commercial letters of credit (import and export),
online letter of credit issuance, standby letters of credit, documentary
collections, direct collections, bankers acceptance financing, trade
cycle financing, pre- and post-export financing, and foreign exchange
The responsibility of building up Umpqua's new international banking
group falls to Oriti, who joins the bank as senior vice president and
managing director of the division. He will oversee sales, operations,
credit, systems, risk and export/import programs for the group. With
more than 30 years of experience in international trade finance, Oriti
has particular expertise building new trade finance operations, credit
and marketing for banks expanding their product portfolios.
Before joining Umpqua, Oriti served in senior management roles for
international divisions at several banks including Bank of America.
Oriti has received Small Business Administration Preferred Lender status
in 2004, and the Export-Import Bank Small Business Bank Award in 2001.
Oriti holds a Bachelor of Arts from Cleveland State University and an
Executive MBA from Golden Gate University in San Francisco.
Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua
Holdings Corporation (NASDAQ: UMPQ) and has 150 locations between Napa,
Calif. and Bellevue, Wash., along the Oregon and Northern California
Coast and in both Central California and Central Oregon. Umpqua Bank has
been recognized for its innovative customer experience and banking
strategy by national publications including the Wall Street Journal,
New York Times, BusinessWeek, Fast Company and
CNBC. The company has been recognized for the past three years in a row
on FORTUNE magazine's list of the country's "100 Best
Companies To Work For." Umpqua Holdings also owns retail brokerage
subsidiary Strand, Atkinson, Williams & York Inc., which has locations
in Umpqua Bank stores and in dedicated offices throughout Oregon and
Southwest Washington. Umpqua Bank's Private Client Services Division
provides tailored financial services and products to individual
customers. Umpqua Holdings Corporation is headquartered in Portland,
Ore. For more information, visit http://www.umpquabank.com/.
Source: Umpqua Bank