San Francisco, Ca., USA - September 24, 2009, San Francisco, Ca., USA - UnionBanCal Corporation and its primary subsidiary, Union Bank, N.A., announced that John F. Woods will join the Company as Vice Chairman, Financial Management Group, effective October 13. Mr. Woods will also succeed David I. Matson as CFO.
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Mr. Woods, a graduate of the University of Virginia, began his financial career in 1986 as a staff accountant with Arthur Andersen in Washington, D.C. During his 16 years with the firm, where he rose to partner, Mr. Woods helped build the company's Mid-Atlantic practice by providing risk management related services to a variety of financial institutions.
Most recently, Mr. Woods was Chief Financial Officer of JP Morgan Chase's Home Lending business, an enterprise with approximately $300 billion in assets and more than $100 billion in mortgage originations annually. From 2005 to 2008, Mr. Woods served as a financial executive at Washington Mutual, Inc. (WaMu). He joined WaMu in 2005 as Corporate Controller and in 2007 was promoted to Chief Financial Officer of its largest division, Home Loans. During the acquisition of WaMu by JP Morgan Chase, he and his team were integral to the merger of various aspects of WaMu's mortgage business into Chase.
From 2002 to 2005, Mr. Woods was a senior vice president with the Federal Home Loan Mortgage Corporation (Freddie Mac), culminating as the Company's Corporate Controller. Mr. Woods will succeed Vice Chairman and Chief Financial Officer David I. Matson after a transition period leading to Matson's retirement in early 2010.
Mr. Matson, who will be succeeded by Woods in early 2010, joined Union Bank in 1976 as a manager in the bank's equipment leasing operations. Since then he has advanced through a number of senior and executive management positions in both line and staff functions. His line management responsibilities have included middle market lending, corporate and merchant banking, and cash management and deposit services. Mr. Matson's staff responsibilities include serving as the Company's Corporate Controller for seven years. ■
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