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Stephen Cummings ’77, chief executive officer for the Americas and president and CEO of MUFG Americas Holdings Corporation (MUAH), and of MUFG Union Bank (MUB), has been elected to the Board of Trustees of Colby College.
He was the first American to serve as president and CEO of MUFG Union Bank, N.A., having been named to that position in May 2015. As CEO for the Americas, Cummings has oversight of control functions in Latin America, Canada, and the United States. As one of the largest foreign banks in U.S., MUB is part of a top-five global financial services company, Mitsubishi UFJ Holdings, Inc, with $2.7 trillion in assets, MUFG Americas has more than $350 billion in assets, $6 billion in revenues, one million customers, and 13,000 employees throughout the hemisphere.
Cummings serves on the supervisory board of The Clearing House, and on the executive committee for the Institute of International Bankers.
After earning his M.B.A. from the Columbia University School of Business, Cummings began his career in 1979 with Kidder, Peabody & Co. Inc. In 1984 he joined mergers and acquisitions and advisory firm Bowles Hollowell Conner & Co. in Charlotte, N.C., and was named chairman and CEO in 1992. In 1998 he led the sale of the firm to First Union Corporation, which subsequently became Wachovia Corporation, and served in a number of leadership roles in Wachovia as the corporate and investment bank was built. In 2004 he was promoted to senior executive vice president, global head of corporate and investment banking. In 2011 Cumming joined UBS as managing director and chairman for the Americas.
Cummings joins Colby’s board at an exciting time as the College embarks on an ambitious and historic comprehensive campaign. Known for its innovative programs and partnerships that ensure student success, Colby had raised more than $383 million toward its $750-million goal prior to the public launch of the campaign in October 2017.
His service on the Colby board starts immediately.
Founded in 1813, Colby is one of America’s most selective colleges. Serving only undergraduates, Colby offers a rigorous academic program rooted in deep exploration of ideas and close interaction with world-class faculty scholars. Students pursue intellectual passions, choosing among 58 majors or developing their own. Colby’s innovative and ambitious campaign, Dare Northward, will support deeper connections between the College and the world and a fully inclusive experience for all Colby students. Colby is home to a community of 2,000 dedicated and diverse students from more than 80 countries. Its Waterville, Maine, location provides unique access to world-class research institutions and civic engagement experiences.