Timothy Wennes Joins Union Bank of California as Head of Retail Banking

Union Bank of California today announced that Timothy H. Wennes will join the bank July 28 as senior executive vice president and head of Retail Banking. He also will become a member of the bank’s policy-making Executive Management Committee. Wennes succeeds Steven Glaser, who retired at the end of June. Wennes had a 14-year banking career at Wells Fargo Bank where he advanced from loan officer to become a regional president. During his tenure, Wennes played an early leadership role in Wells Fargo’s entry into in-store branch banking. He joined Countrywide Financial in 2003 as executive vice president of retail banking, was named chief operating officer in 2005 and in 2007 was appointed president and chief operating officer of Countrywide Bank, FSB. During his tenure, he was responsible for the bank’s operational, strategic, financial, and administrative activities, and oversaw its core business functions including retail and commercial banking, document custody services, information technology, marketing, payment systems and operations. Wennes also played a key role in developing and growing the bank’s unique retail business model, which has offices in 35 metropolitan markets. "Tim’s background demonstrates the strengths we are looking for in the new head of the Retail Bank,” said Union Bank Vice Chairman and Chief Operating Officer, Philip Flynn, to whom Wennes will report. "His strong track record of managing a retail bank, while growing deposits and assets, will help propel us toward the achievement of our strategic goals – growth, stability and an increasing share of the retail market,” he noted. As head of Retail Banking at Union Bank, Wennes will manage an organization that includes more than 330 offices in California, Oregon and Washington. He also will provide executive oversight for Union Bank’s consumer and small business markets, consumer loans, its retail segment marketing programs, its ATM network, platform and teller systems, retail finance management, and products and services targeted to employees of middle-market and larger corporate customers of Union Bank. "We are delighted to welcome Tim to Union Bank,” said President and CEO Masaaki Tanaka. "I have every confidence that he will make our already strong Retail Banking Group into a real force in the industry.” Wennes is a graduate of the University of Southern California, where he received a bachelor’s degree in Business Administration. He also earned an MBA degree in International Business from California State University at Fullerton. Based in San Francisco, UnionBanCal Corporation (NYSE:UB) is a bank holding company with assets of $57.9 billion at March 31, 2008. Its principal subsidiary, Union Bank of California, N.A., had 334 banking officers in California, Oregon and Washington and 2 international offices at March 31, 2008. The company’s Web site is located at www.unionbank.com.