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The company badly missed Wall Street estimates in the third quarter, prompting management to ramp up plans to cut costs. Mariner Kemper, in a wide-ranging interview, discussed those challenges while also addressing key changes among his executive ranks.
December 29 -
For years, UMB Financial rode fee-income gains from the expansion of its asset management unit to some strong quarters. But the unit's production has waned lately forcing the company to rethink its expense base and management structure.
November 11 -
UMB Financial in Kansas City, Mo., announced that its president has resigned. Peter deSilva also vacated his post at chief operating officer, the $18.6 billion-asset company said in a press release Monday.
November 2
UMB Financial in Kansas City, Mo., has a new chief risk officer, Jenny Payne.
Payne, who was promoted from director of corporate risk services, began her new role Jan. 1. She succeeded Dave Kling, who retired, the $18 billion-asset bank said Thursday.
Payne, who joined UMB 11 years ago, has more than 16 years' experience in internal audit and risk management. Before joining UMB she worked for Sprint Corp., KPMG and Arthur Andersen.
Payne's promotion continues an overhaul of UMB's executive suite, including the resignation of its president and chief operating officer, Peter deSilva. Its chief financial officer, Brian Walker, resigned from that post and is now chief accounting officer, and in August UMB hired a former IBM executive as chief information officer.
UMB's chief executive, Mariner Kemper, is trying to turn the company around and improve its efficiency ratio. He has launched an ambitious cost-cutting initiative that includes staff reductions.
Kemper was named one of American Banker's Community Bankers to Watch for 2016.
