Umpqua Bank, a subsidiary of Umpqua Holdings Corp. (NASDAQ:UMPQ), has been accepted as a full member of the Society for Worldwide Interbank Financial Telecommunication (SWIFT). As such, the bank is equipped to collaborate with foreign banks on a worldwide basis to facilitate international trade finance for its clients.
Additionally, the bank hired Kathy Schueler as senior vice president, foreign exchange. Schueler is charged with expanding and facilitating Umpqua Bank’s foreign exchange activities, including client advisory services. She will also be responsible for assisting with Umpqua’s international banking business development efforts throughout the bank’s territories. Schueler reports to Anthony Oriti, senior vice president and managing director of Umpqua Bank’s international banking division.
“We’re pleased to have secured all of the necessary accreditations and approvals to launch our international banking division. Umpqua Bank is now fully equipped to support the domestic and international banking needs of clients throughout the bank’s footprint,” said Oriti. “Umpqua’s international banking division provides regional businesses the financial tools and expertise they need to participate in international commerce, while benefiting from the services and support of one of the strongest community banks in the nation, Umpqua Bank.”
The SWIFT announcement follows Umpqua Bank’s establishment of an international banking division last May. With acceptance from SWIFT and the launch of its foreign exchange services, Umpqua’s international banking division is now fully operational. Umpqua’s international banking division is based in San Francisco and will serve businesses throughout the Umpqua footprint which extends from Bellevue, Wash., to San Francisco.
Kathy Schueler, Senior Vice President, Foreign Exchange
Schueler has 30 years of professional banking experience, including more than 25 years in foreign exchange services. Before joining Umpqua, she served as senior vice president of foreign exchange for City National Bank, where she was responsible for international business development, sales and advisory services for the bank’s Northern California clientele. She previously served as senior vice president of foreign exchange for Bank of the West, where she managed the bank’s foreign exchange team and was responsible for all trading and customer transactions.
“Kathy has tremendous knowledge of international capital markets and foreign currency management, and I am very pleased to have her on board to lead our foreign exchange services,” said Oriti. “As the business environment becomes increasingly global, we look forward to offering businesses a local solution for their domestic and international banking needs.”
Umpqua’s international banking division offers a full range of trade finance products and services, including: commercial letters of credit (import and export), online letter of credit issuance, standby letters of credit, documentary collections, direct collections, bankers acceptance financing, trade cycle financing, pre- and post-export financing, and foreign exchange services.
About Umpqua Bank
Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corp. (NASDAQ: UMPQ) and has 153 locations between San Francisco and Bellevue, Wash.; along the Oregon and Northern California Coast; and in both Central California and Central Oregon. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including The Wall Street Journal, The New York Times, BusinessWeek, Fast Company and CNBC. The company has been recognized for the past three years in a row on FORTUNE magazine’s list of the country’s “100 Best Companies To Work For.” Umpqua Holdings also owns a retail brokerage subsidiary, Umpqua Investments Inc., which offers services through Umpqua Bank stores and in dedicated offices throughout Oregon. Umpqua Bank's Private Bank Division provides tailored financial services and products to individual customers. Umpqua Holdings Corp. is headquartered in Portland, Ore. For more information, visit http://www.umpquabank.com.