UMB Financial Recognized Amongst the Nation’s Best

UMB Financial Corporation (NASDAQ: UMBF) and the company’s Asset Management division received a No. 21 ranking in Bank Insurance Market Research Group’s 2009 Who’s Who In Bank Wealth Management.

Distributed and sponsored by the Bank Insurance & Securities Association, the annual study helps describe and define the landscape of the bank wealth management industry. The report ranked the top 60 banks by 2008 trust revenues. To qualify, banking companies had to have more than $14.0 million in annual trust revenues.

UMB was cited as “one of the more robust wealth management businesses in the Midwest” and is “aiming to expand, not abandon, its proprietary mutual fund family.” The Asset Management segment of UMB accounted for 16 percent of UMB Financial Corporation’s consolidated net income for 2008.

“We’re very honored and pleased to be recognized with this ranking among top performing wealth management companies, and it further validates our strategic commitment to exceptional and focused asset management,” said Clyde Wendel, president of UMB Asset Management. “We established a goal to grow our business to $20 billion by 2012. And despite the economic challenges of the past year, we believe our strategies are aligned to meet or exceed that goal.”

Most recently, UMB Financial was announced as being a top performer in Sandler O’Neill and Partners “2009 Bank and Thrift Sm-All Stars” report. Earlier this year, UMB also received a No. 5 ranking in a "stress test" conducted by SNL Financial to determine the best capitalized bank holding companies nationally.

About UMB

UMB Financial Corporation (NASDAQ: UMBF) is a financial services holding company headquartered in Kansas City, Mo., offering complete banking, asset management, health spending solutions and related financial services to both individual and business customers nationwide. Its banking subsidiaries own and operate 135 banking centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. Subsidiaries of the holding company and the lead bank, UMB Bank, n.a., include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisor that manages the company’s proprietary mutual funds and investment advisory accounts for institutional customers. Visit umb.com for more company information.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6063332lang=en

UMB Financial (NASDAQ:UMBF)
Historical Stock Chart
From May 2024 to Jun 2024