CORRECTING and REPLACING Johannes (Johs) Worsoe Given Expanded Duties and Will Join Executive Management CommitteeJOHANNES (JOHS
January 25 2007 - 2:42PM
Business Wire
Please replace the release with the following corrected version due
to multiple revisions to the text. The photo has been replaced as
well. The corrected release reads: JOHANNES (JOHS) WORSOE GIVEN
EXPANDED DUTIES AND WILL JOIN EXECUTIVE MANAGEMENT COMMITTEE Union
Bank of California Executive Vice President Johs Worsoe has been
appointed head of the bank�s institutional services and asset
management business lines and will be added to Union Bank�s
executive management committee, which consists of the bank�s
policy-making officers. The appointments are effective January 1,
2007. As head of the bank�s Global Markets Group, Worsoe�s expanded
duties now include overseeing the bank�s institutional services and
asset management businesses, responsibilities he�s assuming with
the retirement next month of Executive Vice President Piet
Westerbeek. Worsoe will now manage corporate trust, global custody,
retirement plan services and the bank�s investment management
subsidiary, Highmark Capital Management, Inc. In addition, Worsoe
will continue to oversee global foreign exchange, global
derivatives and retirement solutions, and the bank�s investment
brokerage and insurance brokerage subsidiaries, UnionBanc
Investment Services, LLC, and UnionBanc Insurance Services, Inc.
Worsoe is now responsible for the majority of the bank�s
non-interest income, fee-generating businesses. Westerbeek, who has
been with the bank some 34 years, is assisting with the transition.
Prior to joining Union Bank in March 2001, Worsoe spent six years
at Imperial Bank in Los Angeles where he managed the international
financial services division. From 1985-1995 Worsoe worked in
various capital markets related positions in Denmark, Spain and
California principally for the Scandinavian bank, Sydbank A/S and
its wholly owned California based subsidiary National Bank of Long
Beach. A native of Denmark, Worsoe holds a Master of Business
Administration degree from the University of Southern California
and a Bachelor of Arts degree from the University of Phoenix.
Worsoe is a graduate of the Danish Banking School and he has
attended an executive management program at Harvard Business
School. In addition to his duties at Union Bank of California,
Worsoe is the treasurer of the Boys & Girls Club of Hollywood.
Based in San Francisco, UnionBanCal Corporation (NYSE:UB) is a bank
holding company with assets of $52.6 billion at December 31, 2006.
Its primary subsidiary, Union Bank of California, N.A., had 321
banking offices in California, Oregon and Washington, and 2
international offices at December 31, 2006. The company's Web site
is located at www.unionbank.com.
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