People Moves
San Francisco Bank Appoints Head Of Brokerage Unit
San Francisco-headquartered Union Bank has appointed Michael Mortensen as chief executive of its brokerage subsidiary, UnionBanc Investment Services.
Mortensen was latterly president and chief executive of PNC Investments, the retail brokerage of PNC Financial Services Group. He worked at the firm for 18 years in total.
At Union, he will report to Dennis Mooradian, executive vice president and head of wealth markets, who also runs HighMark Capital Management, the bank’s asset management subsidiary.
“We are excited about the ability to leverage Mike’s experience to help us grow and strengthen our important wealth-related lines of business,” said Mooradian.
Mortensen replaces Steven Short, who left the firm earlier this year.
UBIS provides investment and insurance products to individuals, corporations and institutions.
