John C. Erickson Advanced to Vice Chairman and Chief Risk Officer of UnionBanCal CorporationJohn C. Erickson (Photo: Business Wi
27 March 2008 - 7:57AM
Business Wire
UnionBanCal Corporation (NYSE:UB) today announced that John C.
Erickson has been promoted to Vice Chairman and Chief Risk Officer
of the Company and its principal subsidiary, Union Bank of
California, N.A. His promotion is effective April 1. Erickson
succeeds Vice Chairman and Chief Risk Officer Masashi Oka, who has
completed his rotational assignment in the United States and is
returning April 1 to The Bank of Tokyo-Mitsubishi UFJ (BTMU), where
he will assume responsibilities as Executive Officer and General
Manager of BTMU�s Corporate & Investment Banking Business
Development Division. BTMU is the major shareowner of UnionBanCal
Corporation. Erickson, a Senior Executive Vice President, was
appointed Deputy Chief Risk Officer last September. In his new role
as Chief Risk Officer, Erickson will have several areas of
responsibility: Credit Management, Compliance, Enterprise-Wide Risk
Management, Bank Secrecy Act, and Financial Intelligence. In
addition, he will chair the bank�s Basel II Steering Committee and
will be responsible for Corporate Real Estate and Bank Security.
�John has demonstrated exceptional effectiveness in improving our
compliance and risk management processes. I am confident that with
John�s leadership, experience, and resolve we are well-positioned
to sustain our compliance efforts and ensure the company�s long
term success,� stated Masaaki Tanaka, President and Chief Executive
Officer. Oka was appointed Chief Risk Officer in August 2007 and
has served on the board of directors of UnionBanCal and Union Bank
since 2005. Until his appointment as Chief Risk Officer, Oka served
as Vice Chairman of the Administration & Support Group of the
Bank. �Masashi has played a key role in building our
enterprise-wide risk management culture. He has worked tirelessly
to enhance internal compliance controls and processes and to keep
our regulators well informed of the progress we�ve made on
compliance issues. We thank him for his service, and wish him well
in his new assignment,� Tanaka added. Prior to his recent
assignments in the Risk Management area, Erickson was responsible
for the Commercial Banking and Wealth Management Group, which was
comprised of the Commercial Banking, Wealth Management, Capital
Markets, National Banking, Commercial Credit Center and Commercial
Loan & Trade Services units. Erickson joined the bank in 1983
as a trainee. He later managed syndications and was promoted to
Senior Vice President of Corporate Capital Markets before being
named Executive Vice President with responsibility for certain
wholesale banking areas. Erickson is a member of Union Bank of
California�s Executive Management Committee and its CEO Forum,
which sets policy for the bank. Erickson will report directly to
Masaaki Tanaka. Based in San Francisco, UnionBanCal Corporation
(NYSE:UB) is a bank holding company with assets of $55.7 billion at
December 31, 2007. Its primary subsidiary, Union Bank of
California, N.A., had 330 banking offices in California, Oregon and
Washington, and 2 international offices at December 31, 2007. The
company's Web site is located at www.unionbank.com.
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