California Bank & Trust Names Michael MacDonald President

MacDonald will oversee CB&T's commercial, corporate and specialty industry banking businesses while continuing to lead Zions Capital Markets.

Updated on Nov. 2, 2026 in People

Bold flat-color editorial illustration of two equal office towers joined by a low bridge above a plinth, with a palm silhouette, in navy, cream, and terracotta. — California Bank & Trust named Michael MacDonald its president, placing him over its commercial banking businesses and Zions Capital Markets. AI Illustration. Upload story photo >

California Bank & Trust, a division of Zions Bancorporation, N.A., has appointed Michael MacDonald as its President. MacDonald will report to CEO Eric Ellingsen and continue to lead Zions Capital Markets.

Why it matters

The appointment places a single executive over both CB&T's commercial banking operations and Zions Capital Markets, consolidating leadership across the bank's California-focused business lines. It reflects the bank's effort to align its commercial and capital markets strategy under one senior leader.

MacDonald joined Zions in 2016 and previously served as executive vice president at OneWest Bank, where he launched and scaled the Power & Project Finance business before it passed to CIT. The extraction does not provide quantitative performance metrics for his tenure.

The players

Michael MacDonald

MacDonald is a banking executive who previously led Power & Project Finance at CIT and built that business at OneWest Bank.

Eric Ellingsen

Ellingsen is the chief executive officer of Zions Bancorporation, to whom MacDonald reports.

The details

MacDonald oversees CB&T's Commercial, Corporate and Specialty Industry banking businesses and serves on the Executive Management Committee of Zions Bancorporation. He holds a Bachelor of Science in Business from Wake Forest University.

2016: MacDonald joins Zions Bancorporation.

People

MacDonald's trajectory runs through CIT's acquisition of OneWest Bank, where he launched the Power & Project Finance business before moving to Zions in 2016. His elevation to CB&T president extends that career arc into regional commercial banking leadership in California.

For CB&T clients, the appointment signals a single senior leader overseeing commercial and specialty banking relationships in California. The extraction does not describe changes to products, pricing, or service.

The takeaway

Leadership consolidation across commercial banking and capital markets can streamline how a bank serves its corporate clients. Watch for how CB&T's commercial strategy evolves under MacDonald's oversight.