The bank’s current advisor force of 40 is mostly located in Oregon, but the hiring will take place throughout the bank’s western footprint that also includes Washington, California and Nevada.
“Expansion of our full service platform into locations where Umpqua Bank has a strong presence will continue to enhance our ability to serve these communities,” said Jeani Winterbourne, president and CEO of Umpqua Investments, in a press release. Winterbourne will oversee the expansion effort. “This new group of financial advisors will position Umpqua to fully accommodate this latest growth cycle in our existing markets, as well as new markets that we will enter.”
Umpqua Investments has grown in recent years. In addition to serving customers at Umpqua Bank stores, Umpqua Investments operates in branch offices in Portland, Lake Oswego and Medford, Ore., and Santa Rosa, Calif. And it has plans to expand in key regions. It recently acquired a community bank in the San Francisco area and plans to build a new “flagship” location there, according to an article in American Banker, a sister publication to Bank Investment Consultant.
Umpqua Bank has $11.5 billion in assets and 190 locations.