Umpqua Bank/Pivotus Ventures
Raymond P. Davis
President & Chief Executive Officer
Umpqua Holdings Corporation, Portland, Oregon
Ray Davis, President and CEO of Umpqua Holdings Corporation, is at the forefront of change in the financial industry. He is leading the charge with innovative delivery systems and pushing the Oregon-based financial services company into uncharted waters by embracing technology and adding a successful brokerage subsidiary to its mix of offerings. Umpqua Holdings Corporation is the parent company of Umpqua Bank and the full-service brokerage firm Strand, Atkinson, Williams &York.
Davis joined South Umpqua Bank in 1994 and launched an aggressive expansion and cutting-edge retail-banking strategy. Umpqua Bank quickly climbed from third to first in its home market and has rapidly expanded to 127 banking locations between Sacramento, Calif. and Bellevue, Wash., along the Oregon and Northern California Coast and in Central Oregon. In 1998 Davis took the company public on the NASDAQ exchange and created a financial services holding company, Umpqua Holdings Corporation. In 1999, the holding company acquired Oregon’s second-largest full-service investment firm, Strand, Atkinson, Williams & York, to enhance Umpqua’s range of product offerings.
Under Davis’ leadership, Umpqua Bank has grown from $140 million in assets in 1994 to more than $7 billion today. His innovative strategy has driven the company’s strong organic growth and supported eleven successful bank mergers.
National publications including the Wall Street Journal, the New York Times, Fast Company, Business Week, Business 2.0 and Newsweek have acknowledged the bank’s strategy and growth. In addition, numerous industry and statewide publications have highlighted Umpqua Bank’s many successes under Davis’ tenure. He was recently recognized as one of high finance’s 25 most influential people by U.S. Banker Magazine.
Davis firmly believes that he is in the retail business and often staffs his new banks with former retail workers trained in customer service and cross-selling. “What I sell are financial products and services, and I’d better be good at it,” says Davis. He reinvented Umpqua Bank’s image, building avant-garde mini-banks that are more “bank store” than branch, featuring merchandising, eye-catching displays, and a computer café.
Before joining Umpqua Bank, Davis served as president of the U.S. Banking Alliance, headquartered in Atlanta. In that position, he provided support and expertise to about 500 community banks nationwide, helping them to compete against the Goliaths of the industry.