January 9, 2014

Cover Story

CEO of the Year

Utah’s business landscape is rich with professionals who have le...Read More

Featured Articles

Did you go Skiing this winter?

Around Utah

Sections

Spotlight
Martin Plaehn

Spotlight
Karen Sendelback

Legal Briefs
Social Media and Employers: Friends or Enemies?

Money Talk
The Case for HSAs

Economic Insight
Time to Show Up

Lessons Learned
Make a Move

TechKnowledge
In the Lab

EntrepreneurEdge
Rent to Own

Business Trends
Back from the Dead

Living Well
Artful Inspiration

Features
A Breath of Fresh Air

Features
Worst-Case Scenario

Regional Report
Northern Utah

Focus
Measure Up

Industry Outlook
Travel & Tourism

Players
Players

Article

Zions Bank to Provide Services for Family-owned Businesses

Press Release

January 9, 2014

Salt Lake City – Recognizing the expertise family-owned businesses need to survive and thrive, Zions Bank and parent company Zions Bancorporation have launched Family Business Services. The effort will provide clients with specialized education in business succession, estate and financial planning. It also offers support for transitioning family business ownership to employees or outside buyers.

From the schemes of the Carrington family on the 1980s TV series Dynasty to the contemporary squabbles of the Italian family of bakers on Cake Boss, television isn’t too far from reality. Family businesses face unique challenges. In fact, research published in Family Business Review has shown between 80 and 90 percent of U.S. businesses are family-owned or controlled, yet less than half are passed on to a second generation.

The Family Business Services concept was created after several longtime family-owned business clients contacted Zions Bancorporation CEO Harris Simmons for advice on topics such as succession planning and providing liquidity for family members who are owners but not otherwise involved with the family business.

Simmons, son of Zions Bancorporation founder Roy W. Simmons, recognized these as the kinds of issues his own family had wrestled with in ventures involving both banking and radio broadcasting. He saw a need to provide family businesses with resources that would help them deal with such challenges. So did Zions Bank President and CEO Scott Anderson.

“So many family-owned businesses in the coming years will be facing transitions that have the potential for both great opportunity and great conflict,” said Anderson. “We will be here, offering help with that process and solid financial advice and services.”

Chaitali Patel, Zions Bank family business services manager, said the holistic approach offered by Zions Bank is unique in a landscape focused on banking and wealth management strategies.

“At Zions Bank, we are equipping our clients with expertise to define and plan the future of their businesses,” said Patel. “This helps them retain and build wealth, family harmony and priceless legacies.”

Information and online tools are available at www.zionsbank.com/familybusiness.

Utah Business Social
UB Events View All
CEO of the YearUtah Business Event
Mar 20, 2015
Utah Business Magazine and Presenting Sponsors - Holland & Hart and Newmark Grubb ACRES - are pro...
Job Summit 2015Utah Business Event
Apr 10, 2015
Position your company as a Premier Employer in today's competitive job market! Utah Business maga...
30 Women to WatchUtah Business Event
May 21, 2015
Utah Business magazine and Snell and Wilmer are proud to announce the 18th annual 30 Women To Wat...
Community Events View All
Advance Your HR Career by Building Credibility, Trust, and Professionalism
Mar 3, 2015
Even if you know your craft, do you know how to improve others’ perception of your ability and pr...
CEH - Certified Ethical Hacker
Mar 3, 2015
Learn to hack like a pro, while pleasing the boss! The ethical hacker is usually a trusted employ...

info@utahbusiness.com  |  90 South 400 West, Ste 650 Salt Lake City, Utah 84101   |  (801) 568-0114

Advertise with Utah Business

Submit an Event

* indicates required information
* Event Name:
Price (general):
Website (if applicable):
Coordinator's Name:
Coordinator's Email:
Coordinator's Phone:
Venue Name:
Venue Address:
Venue City:
Venue Zip:
Event Capacity:
Date(s):
to
* Event Description:
  Cancel