Umpqua hires 39 in expansion, plans new offices

AP News
Posted: Nov 12, 2009 3:11 PM

Retail broker Umpqua Investments Inc. said Thursday that since January it has hired 27 financial advisers who bring in an additional $8.5 million in yearly revenue as part of an expansion effort.

It plans to expand by opening more offices in the next three to five years. It did not say where those offices would be located.

Umpqua is a subsidiary of Umpqua Holdings Corp., and is based in Portland, Ore. It used to be known as Strand, Atkinson, Williams & York. Total assets under management now total more than $2.4 billion, up from $1.2 billion.

Umpqua has also hired 12 additional customer service employees.

Shares of parent company Umpqua Holdings Corp. rose 12 cents to $10.43 in afternoon trading.