The new commercial branch, scheduled to open in June 2011, will provide a complete suite of banking services to multi-national clients as well as companies that prefer to conduct business in New York.
The branch opening follows an earlier expansion into Texas in 2009 when Union Bank opened a commercial banking office in Dallas.
Union Bank head of global treasury management group JoAnn Bourne said New York is the financial capital of the US, the headquarters for many US and multi-national companies, and the home to many of bank’s clients.
"It’s imperative that we conduct business in closer proximity to our clients and develop new relationships with companies conducting business overseas," Bourne said.
Union Bank has been lending to corporate customers in New York, providing a range of commercial banking services including treasury management, foreign exchange, custody, and corporate and institutional trust, among others.
Union Bank is a subsidiary of UnionBanCal, a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi, UFJ (BTMU).
