Umpqua Bank is moving forward with its plan to expand its private banking business into new markets. The Roseburg, Ore.-based bank has named a former executive of Wells Fargo Private Bank to lead Umpqua Private Banks expansion into the Puget Sound region, the bank announced Tuesday.
Elise Fortin will be responsible for building the private banks team in the region and for delivering high-touch, personally customized offerings to clients in Seattle and beyond, the bank said in a statement.
Fortin has more than 25 years of wealth management experience, according to Umpqua. In addition to serving as senior vice president at Wells Fargo Private Bank, Fortin held numerous senior business and sales management positions at U.S. Trust, Northern Trust, Key Bank and First Union Bank.
Elise brings tremendous experience developing and expanding client and partner relationships, and with her leadership in the Puget Sound we look forward to expanding our services to clients throughout the Pacific Northwest, Kelly Johnson, executive vice president of Umpquas wealth management division, said in a statement.
Umpqua Private Bank, which launched in Portland in August 2009, has experienced a growth spurt in recent years due to increasing demand throughout the Pacific Northwest, Kelly said. The private bank serves clients with more than $3 million in net worth and $1 million investable assets.
Umpqua Private Bank has grown significantly in recent years as clients have recognized the value of our approach, which combines the sophisticated financial expertise and tools of a large institution with the genuine service and local engagement of a community bank, Johnson said.
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