Michael Mortensen (Photo: Business Wire)

Union Bank, N.A., today announced that Michael Mortensen has joined the company’s brokerage subsidiary, UnionBanc Investment Services, LLC. (UBIS), as chief executive officer. Mortensen, who had an 18-year career with Pittsburgh-based PNC Investments, LLC and PNC Brokerage, most recently served as president and chief executive officer of PNC Investments, the full-service, retail brokerage division of the PNC Financial Services Group.

Michael Mortensen (Photo: Business Wire)

He reports to Union Bank Executive Vice President and Head of Wealth Markets Dennis J. Mooradian, who also serves chairman, president and chief executive officer of HighMark Capital Management, Inc., Union Bank’s asset management subsidiary.

“We are very pleased that Mike has joined Union Bank after two decades of solid sales, service and executive leadership experience in the broker-dealer industry,” said Mooradian. “We are excited about the ability to leverage Mike’s experience to help us grow and strengthen our important wealth-related lines of business.”

Mortensen joined PNC in 1994 as a market director, and was appointed president and chief executive officer of the retail brokerage division in 1997. Prior to joining PNC, he was a regional vice president for Essex Corp., a third-party marketer of financial products for banks. At Essex, he was responsible for overseeing the annuity sales program of First Interstate Bank of California. He began his financial career with Bank of America Securities in San Diego. Mortensen earned his bachelor’s degree in finance from San Diego State University. He holds the following Financial Industry Regulatory Authority, Inc. (FINRA) licenses: series 7, 63, 24, four, 53 and 12.

As the brokerage subsidiary of Union Bank, UBIS provides a broad range of investment and insurance services to individuals, corporations and institutions. UBIS offers a diverse array of investments to match short- and long-term investment goals of its clients, including stocks, fixed income investments, mutual funds, market-linked CDs, annuities, college savings plans, managed account solutions, long-term care insurance, life insurance, and 401(k) plans.

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