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It was renamed Union Bank & Trust Company of Los Angeles in 1918. Harry Volk was recruited from Prudential Insurance Company as the bank's new CEO in 1957 and pioneered the use of the one-bank holding company, [1] among other banking innovations. [2] Volk retired in 1980 after the purchase of the bank by London-based Standard Chartered Bank in ...
[1] [2] [3] MUFG Americas Holdings Corporation is an intermediate bank holding company based in New York City . It is a wholly owned subsidiary of MUFG Bank , a member of the Japanese Mitsubishi UFJ Financial Group conglomerate. [ 4 ]
On April 1, 1996, the bank merged with Union Bank to form Union Bank of California, becoming the fourth largest commercial bank in California. [21] [22]In 2008, it became a wholly owned subsidiary of the Japanese Mitsubishi UFJ Financial Group, and was renamed MUFG Union Bank. [23]
Since 2014, the bank has been the official bank of the USC Trojans, the athletic program of the University of Southern California. [16]In 2016, the Banc of California announced a partnership with Los Angeles FC, a Major League Soccer franchise, and a 15-year, $100 million deal with the club for the naming rights to their stadium Banc of California Stadium in Los Angeles, which opened in 2018.
Union Bank acquired the building in 1996 as part of its merger with Bank of California. [7] It was one of the first commercial buildings to be completed following the 1906 San Francisco earthquake, leading to a rebirth of the city's financial district. [8] Construction was based on the Knickerbocker Trust Company building in New York City. [9]
[1] The list excludes the following three banks listed amongst the 100 largest by the Federal Reserve but not the Federal Financial Institutions Examination Council because they are not holding companies: Zions Bancorporation ($87 billion in assets), Cadence Bank ($48 billion in assets) and Bank OZK ($36 billion in assets).
The Union Bank Tower (stylized as UnionBank Tower), formerly known as the Union Bank of California Tower and originally as the Bank of California building (not to be confused with the older Bank of California Building), is an 82 m (269 ft), 15-story office building completed in 1969 in downtown Portland, Oregon.
The Great Depression contained several banking crises consisting of runs on multiple banks from 1929 to 1933; some of these were specific to regions of the U.S. [3] Bank runs were most common in states whose laws allowed banks to operate only a single branch, dramatically increasing risk compared to banks with multiple branches particularly ...