Umpqua elevates insider to oversee its growth strategy
Umpqua Holdings in Portland, Ore., has promoted an insider to oversee its growth strategy.
The $27.5 billion-asset company said in a press release Thursday that Tory Nixon had become president of its bank. He had been Umpqua’s chief banking officer.
Cort O’Haver will remain president and CEO of the company and CEO of the bank.
Umpqua said the move is part of its effort to focus more on serving small and midsize business.
The company noted that Nixon oversaw its Next Gen initiative, an effort to improve customer service and enhance revenue. He also supervised Umpqua’s involvement in the Paycheck Protection Program; the company has made 14,000 PPP loans totaling $2 billion.
“The past few years have been pivotal for Umpqua as we’ve evolved our bank and cast a clear vision for continued growth,” O’Haver said in the release. “As the country works to recover from the economic disruption of the pandemic, Tory’s thoughtful, strategic leadership will be even more important.”
Nixon joined Umpqua in 2016 as head of commercial and wealth. He has been in his current role for the past two years. He was a division president and a managing director at California Bank & Trust before joining Umpqua.