Umpqua Bank, a subsidiary of Oregon-based Umpqua Holdings, has been accepted as a full member of the Society for Worldwide Interbank Financial Telecommunication (SWIFT). As such, the bank is equipped to collaborate with foreign banks on a worldwide basis to facilitate international trade finance for its clients.
The SWIFT announcement follows Umpqua Bank’s establishment of an international banking division last May. With acceptance from SWIFT and the launch of its foreign exchange services, Umpqua’s international banking division is now fully operational.
Additionally, the bank hired Kathy Schueler as senior vice president, foreign exchange. Ms Schueler is charged with expanding and facilitating Umpqua bank’s foreign exchange activities, including client advisory services.
She will also be responsible for assisting with its international banking business development efforts throughout the bank’s territories. She reports to Anthony Oriti, senior vice president and managing director of bank’s international banking division.
Ms Schueler has 30 years of professional banking experience, including more than 25 years in foreign exchange services. Before joining Umpqua, she served as senior vice president of foreign exchange for City National Bank.
Mr Oriti said: “Umpqua Bank is now fully equipped to support the domestic and international banking needs of clients throughout the bank’s footprint. Umpqua’s international banking division provides regional businesses the financial tools and expertise they need to participate in international commerce, while benefiting from the services and support of one of the strongest community banks in the nation, Umpqua Bank.
“Ms Kathy has tremendous knowledge of international capital markets and foreign currency management, and I am very pleased to have her on board to lead our foreign exchange services. As the business environment becomes increasingly global, we look forward to offering businesses a local solution for their domestic and international banking needs.”
