In response to growing business needs of multi-national clients and as part of its ongoing expansion strategy, the new commercial branch will provide a complete suite of banking services to companies conducting business in Chicago as well as to multi-national clients.
Union Bank’s global treasury management group senior executive vice president and head JoAnn Bourne said Chicago is the hub for many of its business operations in the region and will provide its clients more personalized services designed for their individual needs, whether their business is focused domestically or internationally.
"It’s essential that we operate in close proximity to our clients and centralizing our business offerings in Chicago allows us to expand our outreach and grow our client base," Bourne said.
Upon opening, the branch will accept deposits from commercial customers and will provide corporate treasury services, said the bank.
For the past 20 years Union Bank has been serving corporate customers in Chicago and offering a wide array of commercial banking services such as treasury management, foreign exchange, custody, government services, and corporate and institutional trust.
The bank is already managing two commercial branch is the US, including Dallas branch launched in 2009 and New York City branch opened in 2011.
Union Bank’s holding company, UnionBanCal Corporation, is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi, which is one of the world’s largest commercial banking companies with offices in 40 countries.
Headquartered in San Francisco, UnionBanCal Corporation manages assets of $89.7bn as on 31 December 2011 offers financial services to individuals, small businesses, middle-market companies, and major corporations through Union Bank.
