UnionBanCal Corporation and its primary subsidiary, Union Bank, have made several changes to their senior executive management structure, following vice chairman and chief operating officer Philip Flynn’s retirement.
Timothy Wennes, senior executive vice president, will assume a new role of chief retail banking officer and will report directly to president and chief executive officer Masaaki Tanaka. The bank’s corporate social responsibility division will now report to Mr Wennes.
John Erickson, Vice chairman and chief risk officer, will assume a new role of chief corporate banking officer. Reporting to Mr Erickson will be senior executive vice presidents Grant Ahearn (specialized financial services), JoAnn Bourne (corporate deposits and global treasury management), Robert Dawson (commercial banking), Michael Stedman (real estate industries) and Johannes Worsoe (global and wealth markets).
Mark Midkiff, senior executive vice president and chief credit officer, will add to his duties the role of chief risk officer, succeeding Mr Erickson in that capacity. Mr Midkiff was chief risk officer at another commercial bank for four years prior joining Union Bank.
Mr Tanaka said: “The changes we’ve made underscore the depth of experience of our senior management team and would not have been possible without our careful attention to strategic contingencies and succession planning. As the bank continues to gain momentum for the future growth of businesses, these executives bring a broad depth of experience for these new assignments, and I have great confidence in all of them.”
