Now that the infrastructure is in place, Umpqua Private Bank is ready to scale the business, says Kelly Johnson, the executive vice president of the wealth management division.
Since the private bank was established in Portland in August 2009, it has gained more than 300 clients with an average of $1.4 million in deposits, loans and trust and investment assets. It is now looking to branch out beyond Portland to San Francisco and Seattle, where many millionaires, the banks target client, reside.
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