Columbia Bank is launching its Franchise Banking Team, an initiative designed to strengthen the bank’s capabilities to support franchisors and operators with banking relationships.
James Short and Rich Watson, two of the premier franchise banking leaders in the country, were hired to lead the newly formed team. They both specialize in restaurant banking, where the team will initially focus.
The new Franchise Banking Team will offer dedicated treasury management, credit, derivatives, wealth management and merchant banking solutions to restaurant franchisors, franchisees and independently branded concepts.
“James and Rich are widely recognized leaders in the restaurant and franchise banking spaces. We’re thrilled to have bankers of their caliber help expand our capabilities and build a best-in-class franchise platform,” Tory Nixon, president of Columbia Bank, said. “Columbia’s commitment to fostering full and long-term banking relationships, combined with the deep industry experience of James and Rich, will give customers that partner with us a distinct competitive advantage.”
Prior to joining Columbia, Short launched the Food Franchise Finance Team at BBVA Compass and held leadership roles at GE Capital Franchise Finance. Most recently, he served as senior vice president and senior relationship manager at Bank of America, leading origination of debt, treasury management, derivative and investment banking solutions.
“Columbia Bank has a clear vision for growth and understands the tremendous opportunity we have to be a difference-maker for franchise owners and operators,” Short said. “Tory and his team are very supportive and passionate about elevating Columbia as a premier player in this space. We’re excited to bring our collective expertise and the bank’s unique value to top restaurant operators.”
Watson joins Columbia Bank from Bank of America where he served as senior vice president and senior relationship manager. He also held positions as credit products officer and portfolio management officer within the multinational bank’s Restaurant Group.
“An effective franchise banking partner needs to have a strong understanding of their clients’ needs, as well as extensive knowledge of the consumer and brand trends impacting their business,” Watson said. “That’s where we have a distinct advantage. James and I are excited to turn our decades of experience supporting restaurant operators into long-term banking relationships with Columbia.”