$$$ for Union Bank

Well, it's money for the SF-based parent, UnionBanCal Corp., which was sold last year to Mitsubishi Financial Group. UnionBanCal (what a name!) gets a $2-billion infusion, which was called "voluntary and pre- emptive" and apparently is based on scenarios used for stress tests of the nation's biggest banks. Union Bank, which has had numerous ownership iterations over the years, is the state's third-largest bank by assets - and has a big presence in Socal.(Bloomberg)


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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