People Moves

Advisor Returns To Santa Barbara Bank & Trust

Wendy Spires Group Deputy Editor London 3 October 2012

Advisor Returns To Santa Barbara Bank & Trust

The private wealth management arm of Santa Barbara Bank & Trust has persuaded Connie Young to return as a private client advisor after two years at City National Bank.

Young, who will be based at Santa Barbara Bank & Trust’s private wealth management office in Ventura, Ca, will be advising high net worth clients on financial planning, investment management and trust issues, as well as providing deposit and credit services.

Young was latterly vice president and manager of the Ventura office of City National bank. Before joining City in 2010 Young held various roles at Santa Barbara Bank & Trust, notably managing the firm’s Montecito Village wealth management office.

Back in March it emerged that San Francisco-based UnionBanCal Corporation and its Union Bank subsidiary had entered into an agreement to acquire Pacific Capital Bancorp, the Santa Barbara-headquartered owner of Santa Barbara Bank & Trust, for $46 per share in cash.

The acquisition is expected to close in the final quarter of the year.

At the tiime the firm said the purchase of Pacific Capital and its primary bank operations, Santa Barbara Bank & Trust, will expand its geographic footprint across “important areas” of the central coast, as well as strengthening Union Bank’s ability to serve customers through greater scale and distribution in markets including wealth management.

UnionBanCal also said the acquisition presents opportunities from expanded product offerings and cross-selling in business banking, wealth management and commercial and community banking, which is a source of “significant revenue.”

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