Zions Bancorp. (ZION) has promoted an executive in its real estate division to executive vice president and chief credit officer.
Michael Morris will oversee credit risk at the $53-billion-asset company. He will manage its credit approval process, stress-testing of portfolios, credit-risk modeling and credit policy. He will also join the Salt Lake City company's executive management committee.
Morris joined Zions in 2007. He served as managing director and group head of real estate capital markets and executive vice president of real estate. Previously he worked at JPMorgan Chase (JPM), Bank One Corp. and First Interstate Bank of California.
"Michael is a very strong administrator and has run an incredibly clean portfolio," Zions chairman and chief executive Harris Simmons said in a press release. "During Michael's tenure, the portfolio under his supervision experienced a loan chargeoff rate that was approximately 50% better than the industry's level."