MUFG Union Bank, N.A. (Union Bank) today announced four
appointments within the Small Business Administration Lending
group. Craig Cornwell, Billy Szeto, Jeff Theiler, and Sam Vichattu
join as Vice Presidents reporting to Kirsten (Didi) Hakes, head of
the Small Business Administration Lending group. These individuals
will assist small business owners with a broad range of financial
services, including owner-occupied commercial real estate lending,
business acquisition, and expansion.
“Small business owners across the West Coast are optimistic
about the business opportunities ahead and we are expanding our
team to support their growing needs,” Hakes said. “This
high-caliber team, with an average of 18 years of experience
serving small business owners, is qualified to counsel clients on
the various Small Business Administration programs and other
financing options that will help them achieve their specific
business goals.”
Based in Los Angeles, Craig Cornwell brings to Union Bank more
than 20 years of Small Business Administration expertise. He also
brings deep understanding of owner-occupied lending. Together with
a team of Los Angeles-based bankers, he will cover the Los Angeles
market. Cornwell is a licensed California real estate broker and
holds a BA in Economics from The University of California, Los
Angeles.
Billy Szeto joins Union Bank from J.P. Morgan Chase, where most
recently he served as a Relationship Manager serving businesses in
the Los Angeles area. He brings Union Bank small business clients
more than 20 years of financial industry experience in the Greater
Los Angeles Area. He is a Small Business Administration specialist
with a commercial banking background that includes experience in
commercial real estate, equipment financing, and commercial and
industrial lending. Szeto has also held positions at SoCal
Certified Development Company, California Bank &Trust, First
Bank, and Comerica Bank. He is based in Los Angeles.
Covering the Pacific Northwest, Jeff Theiler joins Union Bank
from Bank of the West, where he was a Small Business Administration
Specialist. Previous to that, he was a Vice President with Lehman
Brothers, Key Bank, and GE Capital. Theiler’s professional
background includes banking experience in commercial real estate
and equipment financing. He also brings more than 20 years of
financial services experience as a Small Business Administration
Specialist and Commercial Banker. Theiler earned a Bachelor’s
degree in Justice Studies from Arizona State University. He is
based in Portland and serves the Pacific Northwest.
Sam Vichattu brings more than 12 years of financial services
experience, which includes expertise in commercial real estate
finance, SBA lending, market development, and financial analysis.
He is based in San Jose, Calif., and will cover the San Francisco
Bay Area market. Vichattu is a licensed real estate agent and holds
a degree in Business Administration from De Anza College.
About the Union Bank Small Business Administration
group
The Small Business Administration group serves businesses that
fall within the U.S. Small Business Administration guidelines. It
offers an array of products and services for businesses and their
owners, including deposit solutions, loans, lines of credit,
specialized credit programs, and online business products. The team
serves clients throughout the bank’s footprint across California,
Oregon, and Washington.
Union Bank Small Business Economic Survey
In February 2017, Union Bank published the results of its 18th
annual Small Business Economic survey. Union Bank conducted the
survey from Dec. 12, 2016 to Jan. 3, 2017, compiling results from
nearly 700 small business owners in California, Oregon, and
Washington.
Overall, 53 percent of respondents said the national economy is
headed in the right direction, a significant reversal from January
2016 when a majority (58%) believed the economy was headed in the
wrong direction. More than half of respondents (57%) also said they
believe the economic outlook at the state and local levels has
improved versus 49 percent in January 2016. However, 62 percent of
survey participants said the United States, as an entity, is headed
in the wrong direction. This reflects a 5 percentage point increase
from January 2016. For more information about the survey, please
visit
https://www.unionbank.com/global/about/newsroom/press-releases/union-bank-small-business-economic-survey.jsp.
The above survey is for informational purposes only. The
findings are based on surveys of small businesses, and the
information is not a guarantee of actual or future performance.
Union Bank third party vendors are separate legal entities that
are not affiliated with each other in any way by common ownership,
management, control, or otherwise. The content, availability, and
processing accuracy of their websites and products are the
responsibility of each respective company. Union Bank makes no
representations or warranties as to the suitability, accuracy,
completeness or timeliness of the information provided, including
any information provided by third parties. Clients should consult
their own legal and/or tax advisors.
About the Survey
Union Bank, working with its survey partner (MaritzCX), surveyed
693 respondents (591 in California and 102 in the Pacific
Northwest) online from Dec. 12, 2016 to Jan. 3, 2017. The small
business respondents were screened to ensure that they have been in
operation for a minimum of two years with owners over the age of
25. The small businesses were defined for the survey as having $15
million or less in annual sales. The margin of error for the full
sample is +/-4 percentage points. For the various regions, the
margins of error are as follows: Southern California +/-4%,
Northern California +/-7%, and Pacific Northwest +/-10%.
About MUFG Union Bank, N.A.
MUFG Union Bank, N.A., is a full-service bank with offices
across the United States. 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 $115.6
billion, as of December 31, 2016, 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: MTU), one of the world’s largest financial
organizations with total assets of approximately ¥302.1 trillion
(JPY) or $2.6 trillion (USD)¹, as of December 31, 2016. 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=¥116.49 (JPY) as of December 31,
2016
©2017 MUFG Union Bank, N.A. All rights reserved. Member
FDIC.Union Bank is a registered trademark and brand name of MUFG
Union Bank, N.A.
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version on businesswire.com: http://www.businesswire.com/news/home/20170426006156/en/
Union BankJuanita Gutierrez,
+1-213-236-5017juanita.gutierrez@unionbank.com
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