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UNIONBANCAL CORPORATION

(UB)
End-of-day quote Nyse  -  08:15:57 2023-02-09 am EST
- USD    0.00%
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Unionbancal Corp : Masashi Oka Named Chief Risk Officer at UnionBanCal Corporation

08/29/2007 | 03:22pm EST

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.

UnionBanCal Corporation
Stephen L. Johnson, 415-765-3252
or
Joanne C. Curran, 213-236-5017


ę Business Wire 2007
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Managers and Directors
Kevin Peter Cronin President, Chief Executive Officer & Director
Neal Holland Chief Financial Officer
Kazuo Koshi Executive Chairman
Ken Librot Chief Information & Operations Officer
Toby S. Myerson Lead Independent Director