Umpqua opens Arizona office targeting middle-market borrowers

Umpqua Holdings in Portland, Oregon, is expanding into Arizona with the opening of an office in Phoenix that will target middle-market businesses.

The $30.1 billion-asset company said Tuesday that it has hired Kevin Gillette to head the new Phoenix office and build its staff. Gillette most recently set up the Phoenix commercial banking office for Bank of the West, a San Francisco-based unit of the French banking giant BNP Paribas.

Before that, Gillette was a longtime Bank of America executive who helped establish the company’s commercial banking operation in the western U.S. Gillette’s experience is primarily in the the health care, technology and distribution services sectors.

“Kevin has built some of the most successful middle-market teams in the Western U.S. in Phoenix, and we’re thrilled he’s on board to help establish our presence and reputation in the marketplace,” Richard Cabrera, Umpqua’s head of middle-market banking, said in a press release.

Umpqua is in the process of merging with its neighbor in the Pacific Northwest, Columbia Banking System, to form a $50 billion regional player.

In the press release Tuesday, Umpqua Bank President Tory Nixon said the company has a desire to expand across the Southwest.

“We’re excited to join Arizona’s vibrant business community and see tremendous opportunity to leverage Umpqua’s unique combination of size, resources, and expertise to support its success,” Nixon said.