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Umpqua Bank Announces New Asset Management Divsion

^{Published on 2009-01-13 05:40:44, Last Modified on 2009-01-13 05:41:26 - Market Wire}
 

PORTLAND, Ore.--([ BUSINESS WIRE ])--Umpqua Bank, a subsidiary of Umpqua Holdings Corp. (NASDAQ: UMPQ), announced today the start of their new asset management division. The division will be charged with evaluating public and private investment opportunities that help strengthen local economies and deliver returns for Umpqua's clients. To lead this new initiative, Umpqua has hired Kelly Johnson as executive vice president of asset management.

Johnson will be responsible for building and managing a team that will oversee asset management and trust services including oversight of the bank's private client services group. The addition will complement services already offered by the bank's affiliate brokerage firm Strand, Atkinson, Williams and York. Johnson is based in Portland, Ore., and reports to Umpqua Holdings Corporation president and CEO, Ray Davis.

"With the maturing baby boomer demographic as well as other opportunities we've seen in the markets we serve, the development of this division is both prudent and timely," said Davis. "I am extremely pleased to have Kelly at the helm to develop our asset management division. He adds significant value to our private client services team and its ability to provide quality results for our clients. Kelly has the leadership and experience to take us to the next level."

Johnson, who has worked in the investment and securities industry since 1986, was previously employed as a senior managing director for RBC Wealth Management, overseeing wealth management in Oregon, Central Washington and Reno, Nev. His experience includes strategic planning, personnel management, market analysis and sales and marketing.

Johnson has a bachelor's degree in business management and a master's degree in business administration from the Carlson School of Management from the University of Minnesota.

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 148 locations between Napa, Calif., and Bellevue, Wash., along the Oregon and Northern California Coast and in Central Oregon. Umpqua Holdings also owns a 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 [ www.umpquaholdingscorp.com ].

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