SAN FRANCISCO, Sept. 18, 2018 /PRNewswire/ -- Union Bank today announced that Michael Nicita has joined its Regional Bank as Managing Director, Senior Credit Manager for Commercial Banking, Central Valley Division. He is responsible for overseeing high quality credit underwriting and portfolio maintenance in support of the Commercial Banking business. He will be the primary liaison between the Commercial Banking team and the first line Risk & Control, addressing credit related issues, including risk appetite, credit operations, underwriting processes and adherence. Nicita reports to Peter Sitov, Commercial Banking Market President, Northern California and Central Valley Division, and is based in the bank's Sacramento office.
"Union Bank has a long history of serving middle market companies and corporations with innovative products and services, while at the same time maintaining the highest credit quality," said Sitov. "I am pleased to welcome Michael Nicita to the Commercial Banking team. His extensive credit experience in both general industries and agricultural lending will serve us well as we continue our tradition of excellence in commercial lending in the Central Valley."
Prior to joining the bank, Nicita served as Senior Vice President, Credit Team Lead/Loan Team Manager for Wells Fargo Commercial Banking in Sacramento. He also served as a commercial banking relationship manager for Wells Fargo and US Bank Commercial Banking. Prior to that, he held credit positions at Bank of America and Sacramento Commercial Bank.
"Union Bank has built one of the best reputations in the commercial banking business because of its stellar relationship management and its credit services teams," said Nicita. "I look forward to working with Peter and the Central Valley Division team to continue serving our customers and growing our commercial lending presence in the region."
Nicita attended University of California, Davis where he earned an M.B.A. in Finance and a bachelor's degree in managerial economics.
About MUFG Union Bank, N.A.
As of June 30, 2018, MUFG Union Bank, N.A. operated 355 branches, comprised primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York and Georgia, as well as 22 PurePoint Financial Centers. We provide a wide spectrum of corporate, commercial and retail banking and wealth management solutions to meet the needs of customers. We also offer an extensive portfolio of value-added solutions for customers, including investment banking, personal and corporate trust, global custody, transaction banking, capital markets, and other services. With assets of $123.8 billion, as of June 30, 2018, MUFG Union Bank has strong capital reserves, credit ratings and capital ratios relative to peer banks. MUFG Union Bank is a proud member of the Mitsubishi UFJ Financial Group (NYSE: MUFG), one of the world's largest financial organizations with total assets of approximately ¥299.1 trillion (JPY) or $2.7 trillion (USD)¹, as of June 30, 2018. The corporate headquarters (principal executive office) for MUFG Americas Holdings Corporation, which is the financial holding company, and MUFG Union Bank, is in New York City. The main banking office of MUFG Union Bank is in San Francisco, California.
1 Exchange rate of 1 USD=¥110.5 (JPY) as of June 29, 2018
SOURCE Union Bank