Umpqua Private Bank has lost its San Francisco market leader.
Shane Hiller, who joined Umpqua a year ago to build the bank's nascent high-net-worth business in San Francisco, rejoined his former employer, Citi Private Bank, as director and private banker, Citi announced on Monday.
He reports to Lisa Roberts, head of Citi Private Bank in Northern California, Citi said.
"We were fortunate to have had Shane on our team previously and are thrilled to welcome him back. He is a highly-skilled private banker, and his exceptional record of delivering tailored solutions to Bay Area clients will be a key asset to our business," Roberts said in a statement.
Umpqua is in the process of looking for a replacement to fill Hiller's spot, a spokeswoman for Umpqua Bank said in an email. In the meantime, David Lawrence, an executive who joined Umpqua's private bank division late last year from City National Bank, will serve as interim leader.
"Umpqua Bank is a great organization and I enjoyed my time there, but for me personally I wanted to concentrate on the ultra-high-net-worth client. Citi Private Bank has the products and services that serve this client very well," Hiller said in an email.
Umpqua Bank ventured into the high-net-worth business in Portland in 2009 with the establishment of a private bank. It planned to grow the business to 10 times its size by 2018, Kelly Johnson, head of Umpqua's wealth management division, told Bank Investment Consultant in March of 2013.
In May of 2013, Umpqua hired a former executive of Wells Fargo Private Bank to spearhead the expansion of the high-net-worth business in Seattle. In August of 2013, it hired Hiller.
"Umpqua's Private Bank Division in San Francisco is doing extremely well," the Umpqua Bank spokeswoman said. "In less than a year, they've built a terrific team of experienced bankers and grown a strong client base."
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