2008-07-16 17:44:00
SAN FRANCISCO–(EMWNews)–Union Bank of California today announced that Timothy H. Wennes will
join the bank July 28 as senior executive vice president and head of
Retail Banking. He also will become a member of the bank’s
policy-making Executive Management Committee. Wennes succeeds Steven
Glaser, who retired at the end of June.
Wennes had a 14-year banking career at Wells Fargo Bank where he
advanced from loan officer to become a regional president. During his
tenure, Wennes played an early leadership role in Wells Fargo’s
entry into in-store branch banking.
He joined Countrywide Financial in 2003 as executive vice president of
retail banking, was named chief operating officer in 2005 and in 2007
was appointed president and chief operating officer of Countrywide Bank,
FSB. During his tenure, he was responsible for the bank’s
operational, strategic, financial, and administrative activities, and
oversaw its core business functions including retail and commercial
banking, document custody services, information technology, marketing,
payment systems and operations. Wennes also played a key role in
developing and growing the bank’s unique
retail business model, which has offices in 35 metropolitan markets.
“Tim’s background
demonstrates the strengths we are looking for in the new head of the
Retail Bank,” said Union Bank Vice Chairman
and Chief Operating Officer, Philip Flynn, to whom Wennes will report. “His
strong track record of managing a retail bank, while growing deposits
and assets, will help propel us toward the achievement of our strategic
goals – growth, stability and an increasing
share of the retail market,” he noted.
As head of Retail Banking at Union Bank, Wennes will manage an
organization that includes more than 330 offices in California, Oregon
and Washington. He also will provide executive oversight for Union Bank’s
consumer and small business markets, consumer loans, its retail segment
marketing programs, its ATM network, platform and teller systems, retail
finance management, and products and services targeted to employees of
middle-market and larger corporate customers of Union Bank.
“We are delighted to welcome Tim to Union
Bank,” said President and CEO Masaaki Tanaka. “I
have every confidence that he will make our already strong Retail
Banking Group into a real force in the industry.”
Wennes is a graduate of the University of Southern California, where he
received a bachelor’s degree in Business
Administration. He also earned an MBA degree in International Business
from California State University at Fullerton.
Based in San Francisco, UnionBanCal Corporation (NYSE:UB) is a bank
holding company with assets of $57.9 billion at March 31, 2008. Its
principal subsidiary, Union Bank of California, N.A., had 334 banking
officers in California, Oregon and Washington and 2 international
offices at March 31, 2008. The company’s Web
site is located at www.unionbank.com.
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