UMB Financial's Corporate Trust Division Gains 22.49 Percent Market Share
February 08 2011 - 7:49AM
Business Wire
UMB Corporate Trust & Escrow Services, a division of UMB
Financial Corporation (NASDAQ: UMBF), experienced a noteworthy
increase in market share and number of municipal bond trustee and
agency appointments nationally in 2010, according to an annual
rankings report issued by Thomson Reuters. UMB was the only
top-five ranked provider to experience growth in overall market
share in 2010.
According to the report, UMB, which solidly occupies the
fourth-place ranking for municipal trustees nationally in terms of
transactions, realized an increase of 22.49 percent in market share
in terms of total trustee and agency transactions from 2009 to
2010. This increase was also the largest by any single provider
mentioned in the report and represents significant growth within
the U.S. market.
UMB attributes the positive momentum to an in-demand, regional
bank-based service model that has evolved over the past 18 months
to include increased dedicated administrators, several key market
acquisitions and expanded resources to meet heightened needs.
“These rankings confirm another remarkable year of growth for
UMB in the corporate trust industry and validates our
customer-focused, regional bank-based business approach," said Todd
Duncan, executive vice president of UMB Corporate Trust &
Escrow Services. “People want to do business with someone they can
count on and trust. Now more than ever, we fit the bill."
For more than 60 years, UMB Corporate Trust & Escrow
Services has been a leading provider of escrow agent services as
well as trustee and agency services for taxable and tax-exempt debt
(both publicly sold and privately placed) in the municipal and
corporate marketplace. UMB services more than 6,600 escrow and debt
transactions and has more than $48 billion in assets under
administration with offices located in Missouri, Colorado, Indiana,
Kansas, Oklahoma and Minnesota.
UMB seeks to differentiate itself in the marketplace by
employing a staff of Certified Corporate Trust Specialists and
utilizing technology such as the free TrustDirect(TM) web-based
system, which allows online access to account information.
Additional information about UMB Corporate Trust & Escrow
Services and its full line of products can be found at
umb.com/corporatetrust.
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 commercial, institutional and
personal customers nationwide. Its banking subsidiaries own and
operate 128 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. For more information, visit umb.com or
follow us on Twitter at @UMBFinancial.
UMB Financial (NASDAQ:UMBF)
Historical Stock Chart
From May 2024 to Jun 2024
UMB Financial (NASDAQ:UMBF)
Historical Stock Chart
From Jun 2023 to Jun 2024