Assets Under Management Hit $1.2 Billion
BERKELEY, Calif., June 21, 2007 – Contango Capital Advisors, Inc., the wealth management arm of Zions Bancorporation (Nasdaq: ZION), today announced the promotion of David Magee to the new position of president. Contango’s assets under management have grown to $1.17 billion as of June 8, 2007. (Contango also provides investment strategies and analytics to about $600 million of assets managed by its affiliated trust company, Western National Trust Company.)
In his new position, Magee, who had served as Contango’s chief operating officer since its
inception, will focus primarily on leading new business development, which includes the
firm’s wealth managers and marketing efforts.
“David has been a key member of the Contango senior management team since the beginning
and this promotion is certainly well deserved. As chief operating officer, David has been a
major force in creating an organization that could fulfill our vision of marrying sophisticated
analysis and state-of-the-art risk management with investment portfolios that meet clients’
unique, personal goals. He will now introduce our innovative services to a new group of
wealthy individuals and their families. I’m sure he’ll do a stellar job in this new role,” said George Feiger, chief executive officer of Contango.
“I am very excited about the organization we’ve built at Contango, bringing together
tremendous analytical minds with a top-notch wealth manager force. Our strong growth
reflects the unique approach we offer to clients across the wealth spectrum. Contango’s ability
to offer exposure to alternative investments through registered securities is a great example of
the innovation we have been able to foster,” Magee said.
Contango expects to initiate a search to fill the position of chief operating officer, who will
have responsibility for overseeing the firm’s day-to-day operations. The new COO will report
to Magee.
About Contango Capital Advisors
Contango Capital Advisors, Inc. (www.contangoadvisors.com), the wealth management arm of Zions Bancorporation, offers an innovative approach to managing assets. It focuses on individuals’ real-life goals and uses sophisticated analytical techniques and risk-management tools to design clients’ investment portfolios. Contango is an entrepreneurial organization backed by one of the nation’s premier financial services companies.
About Zions Bancorporation
Zions Bancorporation is one of the nation’s premier financial services companies, consisting of a collection of great banks in select high-growth markets. Zions operates its banking businesses under local management teams and community identities through over 450 offices and 500 ATMs in 10 states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington. The company is a national leader in Small Business Administration lending and public finance advisory services. In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices. Investor information and links to subsidiary banks can be accessed at www.zionsbancorporation.com.
Securities and investment products offered by Contango Capital Advisors, Inc. are NOT FDIC INSURED – NOT BANK GUARANTEED – MAY LOSE VALUE.
