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UMB obtained regulatory approval to offer Delaware Statutory Trust services via its subsidiary, UMB Delaware Inc., from a new office in Wilmington, Delaware. The office, led by industry expert Kristin Moore, will enhance UMB's corporate trust offerings, particularly in asset-backed securitizations and renewable energy finance. Executives highlighted the commitment of UMB to the corporate trust business amidst competition. This development signifies a strategic expansion for UMB, enhancing its ability to provide comprehensive solutions to clients.
Positive
Regulatory approval for Delaware Statutory Trust services enhances UMB's business portfolio.
New Wilmington office is expected to streamline client experience.
Kristin Moore brings over 25 years of corporate trust experience to lead the new office.
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KANSAS CITY, Mo.--(BUSINESS WIRE)--
UMB announced today it has obtained regulatory approval to offer Delaware Statutory Trust services through its subsidiary UMB Delaware Inc.Delaware Statutory Trust services will be provided through a recently opened office in Wilmington, Delaware led by industry veteran Kristin Moore, SVP, President of UMB Delaware Inc., Team Manager.
“The Wilmington office is an important step for our fast-growing corporate trust group,” said Mark Flannagan, Executive Vice President at UMB, “Offering Delaware Statutory Trust services rounds out our full-service offering and further streamlines the client experience across a wide range of deals. We are also pleased to welcome Kristin, who is among the most experienced corporate trust professionals in the region.”
Moore and the Wilmington-based team will facilitate trustee services across a wide range of deals, including asset-backed securitizations, transportation finance, mortgage-backed securities, structured note programs and project and renewable energy finance. Moore has more than 25 years of corporate trust experience in Delaware.
“Sometimes we’re asked about UMB’s level of commitment to the asset-backed securities corporate trust business, given that some competitors have exited,” said Stuart Mitchell, Senior Vice President and head of ABS product development. “The new Wilmington office underscores the depth of that commitment. We’ve grown fast and are now poised to offer truly one-stop-shop solutions.”
UMB Financial Corporation (Nasdaq: UMBF) is a financial services company headquartered in Kansas City, Missouri. UMB Bank, N.A. offers commercial banking, which includes comprehensive deposit, lending and investment services, personal banking, which includes wealth management and financial planning services, and institutional banking, which includes asset servicing, corporate trust solutions, investment banking, and healthcare services. UMB operates branches throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, and serves business and institutional clients nationwide. For more information, visit UMB.com, UMB Blog, UMB Facebook and UMB LinkedIn, or follow us on Twitter at @UMBBank. For information about UMB’s operations, approach and relief measures during the COVID-19 pandemic, please visit umb.com/COVID-19.
