San Francisco-based Union Bank has recruited Mark Stevenson and Rebecca Nelson for its Private Bank division. Mr Stevenson has been appointed regional director for Palo Alto and the greater South Bay region, while Ms Nelson has joined as a senior wealth advisor.

Mr Stevenson joins Union Bank from Merrill Lynch, where he was a commercial finance manager covering San Francisco’s Bay Area. His career also includes having been a regional manager for business banking and positions in commercial banking at Security Pacific Bank and City National Bank.

Ms Nelson was most recently a member of the executive team at Palo Alto-based Addison Avenue Federal Credit Union. In this role she was chief marketing officer for both investments and credit union business, director of deposit operations, and held leadership roles in lending operations and strategic and business planning. Previously, Ms Nelson was vice president of trust and investment services at Greater Bay Bancorp.

"Union Bank has a strong commitment to the Peninsula and Silicon Valley area and Mark and Becky contribute both leadership and extensive experience to our team there," said Union Bank executive vice president Mary Curran, head of the Private Bank. 

Union Bank is the primary subsidiary of UnionBanCal Corporation, which in turn is ultimately owned by Mitsubishi UFJ Financial Group. At 31 March 2009, UnionBanCal had assets of $68.7 billion.