SAN DIEGO--(BUSINESS WIRE)--Union Bank's investment advisory and brokerage subsidiary, UnionBanc Investment Services ('UBIS'), has been expanding its reach in recent years through acquisitions and strategic hires. The company has been focused on growing its wealth management and private banking businesses, and has made several moves to strengthen its position in these areas.
One of the most significant recent developments for UBIS was the acquisition of Intrepid Investment Bankers LLC, which was completed in 2019. This move gave UBIS access to a team of experienced investment bankers who specialize in middle-market transactions. The acquisition was seen as a strategic move for UBIS, as it allowed the company to expand its investment banking capabilities and offer its clients a wider range of services.
In addition to the Intrepid acquisition, UBIS has also been adding new talent to its team. Michael Mortensen recently joined the company's brokerage subsidiary, bringing over 30 years of experience in the financial services industry. Mortensen will be responsible for managing the company's high net worth client relationships and expanding its private banking business.
UBIS has also been making moves to strengthen its wealth management business. Shawn McElmoyl recently joined the company as Managing Director and Private Wealth Management Executive for the Southern California region. In this role, McElmoyl will be responsible for growing the company's private wealth management business and working with high net worth clients to develop customized investment strategies.
Michael T. Feldman has also been appointed head of the Wealth Markets Group of Union Bank, where he will be responsible for overseeing the company's wealth management and private banking businesses. David B. Wines has been named President & CEO of UBIS, where he will be responsible for leading the company's growth and expansion efforts.
UBIS has also been expanding its presence in new markets, such as Portland, where it recently added two new hires to its team. Shawn DuBurg and Britton C. Smith, CFA have joined the company's Portland office as Senior Vice Presidents and Portfolio Managers. In these roles, they will be responsible for managing client portfolios and developing customized investment strategies.
Overall, UBIS has been focused on expanding its reach and strengthening its position in the financial services industry. With a team of experienced professionals and a strong focus on wealth management and private banking, the company is well-positioned for continued growth and success.
