New Insurance Chief at Union Bank
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Union Bank of California, N.A. (San Francisco) has named Michael A. Janes as chief executive officer of its insurance subsidiary, UnionBanc Insurance Services Inc., one of the 30 largest insurance agencies in the United States. Janes joins the agency from Hilb, Rogal & Hobbs Co. where he was regional director of its West Coast operations. UnionBanc Insurance Services Inc. recently announced the consolidation of its insurance operation under the UnionBanc Insurance Services umbrella. The new agency will be co-branded with the three original agencies of Armstong/Robitaille Business and Insurance Services, John Burnham Insurance, and Tanner Insurance Brokers. The insurance operation currently has nine offices located in San Diego, Irvine, Fullerton, Glendale, Pleasanton, San Rafael, Stockton, Sacramento—all in California——and in Portland, Oregon. Annual revenue exceeds $80 million and the company employs 415 insurance professionals. The agency has focused on selling commercial property and casualty insurance but recently announced that it plans to expand its personal insurance offerings. The bank also intends to begin distributing life insurance in-house soon (rather than through external wholesalers). Union Bank of California is a subsidiary of UnionBanCal Corporation. UnionBanCal (assets $49.4 billion) was cited as a 'Top 10' institution in the 2005 Edition of Who's Who in Bank Insurance |
