DENVER, June 12, 2014 /PRNewswire/ -- CoBiz Financial (Nasdaq: COBZ), the parent company of Colorado Business Bank and Arizona Business Bank, announced that Marc Wallace has been elected to the Board of Directors for its banking franchise.

"We are pleased to welcome Marc to our bank Board," said Jonathan C. Lorenz, chairman, Colorado Business Bank/Arizona Business Bank . "With more than three decades of business experience, Marc brings a high level of expertise in best human capital management practices as well an understanding of organizational change that will help ensure our bank protects our most important asset: our employees."

Wallace is an executive consultant who spent 14 years with Dow Chemical Company in sales, marketing, sales management and strategic planning. He also served as president and CEO of Human Resource Management Consulting Company and interim VP of HR for Gateway Computer Company. He currently consults on corporate leadership development, strategic planning, improving team effectiveness and merger/acquisition integration. He received his bachelor's degree in math at Adams State University and an MBA in finance at Central Michigan University.

Colorado Business Bank is a full-service commercial banking institution that offers a broad range of sophisticated banking services to a targeted customer base of professionals and small to medium-sized businesses. The bank's parent company, CoBiz Financial (Nasdaq GS: COBZ), is a $2.8 billion financial holding company headquartered in Denver. The Company also provides wealth planning and investment management through CoBiz Wealth Management; property and casualty insurance brokerage and employee benefits through CoBiz Insurance; investment banking services through Green Manning & Bunch.

SOURCE CoBiz Financial