UnionBanCal Corporation (NYSE:UB) and its principal subsidiary, Union
Bank of California, N.A., today announced that Vice Chairman Masashi Oka
has been appointed to the newly created position of Chief Risk Officer.
In his new position, Oka will be responsible for compliance and
enterprise-wide risk management. Oka will oversee the chief credit
officer and chief compliance officer functions, and enterprise risk
reporting and analysis for the company. Oka reports to UnionBanCal
President and CEO Masaaki Tanaka.
?This new position is a further example of our
ongoing effort to strengthen our risk management culture and to achieve
the highest standard of compliance with the Bank Secrecy Act,?
said Tanaka. ?We will continue to evaluate and
improve our programs to ensure total compliance with federal regulations.?
Oka joined UnionBanCal in 2005, overseeing the administration and
support group for the company, as well as the enterprise-wide risk
management functions. He has more than 27 years of experience in
banking, starting his career in 1979 at the Mitsubishi Bank, Ltd. From
1986 to 1992, he worked at the former Bank of California ?
a Union Bank of California predecessor ? in
both Los Angeles and in San Francisco.
Prior to joining UnionBanCal, Oka was the general manager and global
head of the syndicated finance division of the Bank of Tokyo-Mitsubishi,
Ltd. He is on the board of directors of UnionBanCal Corporation and
Union Bank of California. Oka earned his bachelor's
degree from the University of Tokyo in 1979 and his master of law degree
from the University of Michigan Law School in 1986.
Based in San Francisco, UnionBanCal Corporation is a bank holding
company with assets of $53.2 billion at June 30, 2007. Its primary
subsidiary, Union Bank of California, N.A., had 319 full service
branches in California, 4 full service branches in Oregon and
Washington, and 2 international offices at June 30, 2007. The company's
Web site is located at www.unionbank.com.
Stephen L. Johnson, 415-765-3252
C. Curran, 213-236-5017