Daily News: May 1, 2014

Union Bank Expands Commercial Finance Division


Union Bank announced that Richard Hatley, Jim Torkelson, Ed Dridge and Jay Watkins have joined its Commercial Finance Division to support the group’s national expansion strategy in response to its growing client base. The division provides middle-market and corporate clients with asset-based lending solutions for recapitalization, restructuring, growth capital and general corporate purposes.

Hatley is a senior vice president and southwest market manager, responsible for developing relationships with prospective commercial clients and intermediaries to provide asset-based services, and for building a team of originators focused on sourcing and structuring asset-based loans. Hatley most recently served as the director of asset management at Lone Star Funds/Hudson Advisors. Previously, he was SVP of business development at the CIT Group in Dallas. He began his career as a supervising senior auditor at KPMG Peat Marwick.

Torkelson is a senior vice president and Midwest market manager, responsible for developing relationships with prospective commercial clients and intermediaries to provide asset-based services, and for building a team of originators focused on sourcing and structuring asset based loans. He is based in Chicago.

Torkelson most recently served as SVP for First Midwest Bank. Previously, he managed PNC Business Credit’s Midwest office and served as senior vice president. Previously, he has held various positions including managing director at Steel City Capital Funding, vice president and region manager for BTM Capital, a subsidiary of The Bank of Tokyo-Mitsubishi UFJ, and assistant vice president at GE Capital Corporate Finance Group.

Dridge is a vice president and senior underwriter, responsible for analyzing, structuring, underwriting and completing new asset-based transactions. He is based in San Francisco. Dridge previously served as first vice president and underwriting manager at First Niagara Commercial Finance. He also served as senior vice president and western division underwriting manager and underwriter at PNC Business Credit. Dridge began his career as a senior accountant with Anchin, Block and Anchin.

Watkins is a vice president and senior relationship manager, responsible for managing and developing a portfolio of commercial clients with asset-based solutions. He is based in Dallas. Watkins previously served as a senior underwriter and senior portfolio manager at JPMorgan Chase. He also served as vice president and senior underwriter at Bank of America Business Capital. He began his career as an accountant at KPMG.