Soft Landing

A former Bank of America Corp. executive cut last year as part of a purge at the Charlotte company has found new employment.Lance Drummond will join Fiserv Inc. on Monday as an executive vice president. He will oversee growth in areas such as data analytics, consulting and wealth management.

He will report directly to Jeffery Yabuki, Fiserv's president and chief executive, who cited the executive's "proven track record" in business development and experience with digital and payment growth strategies.

Fiserv said Drummond was not immediately available for comment. He was a senior e-commerce executive at B of A, which was one of the first large banking companies to let customers conduct some activities online for free, including bill payment. He was one of a handful of high-level executives who were reportedly let go in December as the company began cutting up to 35,000 jobs leading up to its purchase of Merrill Lynch & Co.


Some banking companies eager to proclaim their support for environmental causes are launching lending initiatives focusing on energy-efficient and other "green" projects.In the Pacific Northwest, a hotbed for the clean energy movement, that apparently is not enough.

Umpqua Holdings Corp., which established its low-interest GreenStreet Lending program for homeowners and businesses in the fall, announced this week that it has created a division devoted to the concept.

Dan Weldon, one of the few bankers accredited by the U.S. Green Building Council as an expert in designing and building environmentally sustainable projects, will lead the "Eco-Banking" division.

He will assemble a team, drawing from across Umpqua's business units, to attract customers interested in environmental issues.

Umpqua is also stepping up its comarketing efforts with the nonprofit Energy Trust of Oregon Inc., as well as touting its in-house environmental efforts.

In Umpqua's markets, particularly Oregon, a company can never be too green in marketing its services, Weldon said. "Oregon has become the epicenter of the sustainability movement worldwide, and I think people want to do business with a company they agree with philosophically."

Asia Hand

JPMorgan Chase & Co. has picked Shaun Parkes to head its worldwide securities services division in Hong Kong, a newly created position. Parkes was JPMorgan Chase's global head of depositary receipt sales and client management in London.The New York company has been expanding its securities services business in Asia.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.