ABSTRACT
Union Bank, headquartered in Los Angeles, California, celebrated its 70th anniversary in 1984 and, in that same year, recorded the highest level of earnings in the bank’s history. For more than 20 years, the bank-through its Institutional Trust Services Department-has provided trustee and related operational and technical services to other financial institutions. Development of the bank’s self-directed account program actually began in early 1983, well in advance of the surge of interest. The bank’s individual customer base is made up primarily of owners, managers, and executives of existing business relationships. The high level of trading activity is attributable, in part, to the "Business Bank" orientation of Union Bank and to the multi-faceted nature of Investment Services. Equally important to the institution is recognition that Union Bank’s wholesale strategy does not expose its customers to a competing entity. The bank’s 20 years of retirement plan service experience have seen the passage of many interesting points along the learning curve.
