Umpqua Bank, part of Umpqua Holdings, is expanding its private banking division into the Puget Sound region of Washington, hiring from Wells Fargo Private Bank to staff the new operation.

Elise Fortin, who has been in the wealth management industry for around 25 years, is joining Umpqua as senior vice president and market leader, responsible for the private banking team serving clients in Seattle and the surrounding area.  

Fortin was latterly a senior vice president at Wells Fargo Private Bank and has also worked in senior sales and business roles at US Trust, Northern Trust, Key Bank and First Union Bank.

Umpqua’s private banking unit works with clients with more than $3 million in net worth and $1 million in investable assets.

The decision to expand into the Puget Sound area was fueled by growth in Portland and increasing demand for private banking services throughout the Pacific Northwest, the Roseburg, OR-headquartered bank said.

Umpqua Holdings, the parent firm, also owns a retail brokerage subsidiary, Umpqua Investments, which offers services through Umpqua Bank branches and also has its own offices in Oregon.