Contango Capital Advisors Inc., the Berkeley, Calif., wealth management arm of Zions Bancorp., promoted David Magee to the newly created position of president.
Mr. Magee, 47, had been Contango's chief operating officer since the unit was formed in February 2004. Previously, he had been the chief executive officer of Panoptic Solutions Inc., an investment company he founded in 2000.
Contango, which announced the promotion last week, expects to conduct a search for a new chief operating officer, who will oversee the unit's day-to-day operations.
Contango had $1.17 billion of assets under management as of June 8. Its Salt Lake City parent has over 500 branches, in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, and Washington.
