Umpqua Holdings Corporation Names Shawn Ahmed President and CEO of Pivotus, Inc.
July 12 2018 - 7:00AM
Umpqua Holdings Corporation (NASDAQ:UMPQ), the parent company
of Umpqua Bank, has appointed Shawn Ahmed as the new president and
chief executive officer of Pivotus, the company’s innovation arm.
With years of expertise leading both startup and global enterprise
teams, Ahmed will oversee the launch of Pivotus’ enterprise human
digital banking platform. In addition, the company has named Troy
Molander as chief technology officer, overseeing the development of
Pivotus’ technology solutions and team.
“Shawn is an exceptional leader and strategist
whose successful track record leading enterprise software companies
will further advance Umpqua’s human digital banking strategy, while
helping us make it available to other like-minded banks around the
U.S.,” said Cort O’Haver, Umpqua president and CEO. “Twenty-five
years ago, we recognized that banking is changing, and we took
steps to make the process more customer-centric. Today, we are
using technology to do the same and empower deeper customer
relationships.”
Pivotus is not Ahmed’s and Molander’s first time
working together. As founder/CEO and CTO, respectively, at
NarrativeWave, they developed a leading-edge analytics platform for
the Industrial Internet of Things (IIoT) that found adopters among
that industry’s largest players, including GE Digital. Later, as
part of an incubation team within Splunk, Inc., they kick-started a
business analytics and machine learning practice, leveraging the
Splunk platform’s real-time machine data analysis capabilities to
deliver powerful data insights for the company’s most innovative
clients.
“Umpqua and Pivotus are at the forefront of a
new, collaborative approach to banking that will power institutions
across the country to better connect and retain customers,” said
Ahmed. “I’m excited by the opportunity to collaborate with Troy
again to advance Umpqua’s mission of using technology to make
banking more personal, consultative, and scalable.”
Before joining forces, Ahmed and Molander led
global enterprise technology organizations. As global vice
president of SAP’s information management business unit, Ahmed
brought data management solutions to market that created value for
SAP’s customers around the globe. As co-founder and COO of the
highly-publicized Telltale Games, Molander is no stranger to
explosive growth. In that leadership role, and later as studio CTO
& architect at Zynga, Molander built and delivered thoughtful,
impactful, secure, and innovative enterprise software that led to
massive technology scale for both companies. At Pivotus, Ahmed
and Molander are leading a world-class team of financial services,
SaaS computing, artificial intelligence, and retail banking
experts.
For more information on Pivotus, please visit
www.pivotus.com.
About Umpqua Holdings Corporation
Umpqua Holdings Corporation (NASDAQ:UMPQ)
is the parent company of Umpqua Bank, an Oregon-based regional bank
recognized for its entrepreneurial approach, innovative customer
experience, and distinctive banking solutions. Umpqua Bank has
locations across Oregon, Washington, California, Idaho and
Nevada. Umpqua Holdings also owns a retail brokerage
subsidiary, Umpqua Investments, Inc., which has locations in Umpqua
Bank stores and in dedicated offices in Oregon, and Pivotus, an
enterprise software and innovation company headquartered in Silicon
Valley. Umpqua Holdings Corporation is headquartered in
Portland, Oregon. For more information,
visit umpquabank.com.
About Pivotus
Pivotus, a full subsidiary of Umpqua Holdings
Corporation, was developed by Umpqua Bank as a way to combine the
power of the startup model with the direct access to capital,
customers and infrastructure that only exists within established
financial services institutions. Now an enterprise SaaS (Software
as a Service) company, Pivotus continues to imagine and create key
technologies and business models that transform finance and
commerce, promoting and enabling the “human digital”
revolution.
Media Contacts:Kurt HeathUmpqua
Bankkurtheath@umpquabank.com
Nora MillerJCUTLER media groupnora@jcmg.com
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/3b5f91b2-a8dc-47d3-b394-efec199dfc7a
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