Umpqua Bank wanted to offer trust services, but like many banks, it was wary of the expense of a major new initiative.
So the unit of Umpqua Holdings Corp., in Portland, Ore., found a partner: New York Private Trust Co., a subsidiary of Emigrant Bancorp Inc. in New York. The deal enabled Umpqua to quickly roll out a trust offering under its brand, with minimal capital outlay and without additional infrastructure, according to Kelly Johnson, executive vice president of wealth management of Umpqua Holdings.
Register or login for access to this item and much more
All Bank Investment Consultant content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access