Umpqua Holdings Corp. in Portland, Ore., said Tuesday that it has started an international banking division in San Francisco to serve small and midsize companies that do business overseas.
The $8.6 billion-asset company said it hired Anthony Oriti, who has worked in international trade finance for 30 years, to lead the division as its managing director.
The division will cater to businesses throughout Umpqua's markets in Northern California, Oregon and Washington. It will offer 24-hour turnaround for certain document services and same-day service for wire transfers and foreign exchange. It also will offer letters of credit, banker's acceptances and other kinds of financing for international trade.
Oriti has worked at Bank of America Corp., Greater Bay Bancorp and Imperial Bancorp.
