UMB FINANCIAL CORPORATION AND UMB BANK, N.A.
ANNOUNCE MANAGEMENT CHANGES
The Boards of Directors of UMB Financial Corporation and UMB Bank, n.a,
announced several important changes in the multi-bank holding company and lead
bank's management structure in a joint telephone meeting today.
R. Crosby Kemper will retain his title of Chairman of UMB Financial
Corporation and assume that of Chief Executive Officer.
Alexander C. Kemper (Sandy Kemper) is stepping down as President and Chief
Executive Officer of UMB Financial Corporation and Chairman and Chief Executive
Officer of UMB Bank, n.a., in order to become the Chief Executive Officer of
eScout.com, the business-to-business e-commerce subsidiary of UMB Financial
Corporation.
"eScout.com is the first and largest business-to-business e-commerce
marketplace devoted to community businesses and banks," said Kemper. "I'm a
passionate believer in the power of community and understand the value of
independent businesses and the community banks that serve them. My family traces
its roots in community banking back over five generations. I am proud to be part
of a tradition of commitment to community and prouder still to have this
opportunity to carry that tradition of trust into the Internet economy."
Alexander C. Kemper will continue to be involved with the holding company
and lead bank as a board director of UMB Financial Corporation and UMB Bank,
n.a. He will also remain a member of the Executive Committee of UMB Financial
Corporation and work with a newly created Office of the Chairman and Chief
Executive Officer.
An Office of the Chairman and Chief Executive Officer of UMB Financial
Corporation will be established in order to manage the holding company. The
office will include R. Crosby Kemper, R. Crosby Kemper III, Peter J. Genovese
and J. Mariner Kemper, President of UMB Bank Colorado. This integrates our
principal markets of Kansas City, St. Louis and Denver into the top management
of the Company.
R. Crosby Kemper III, currently president of UMB Bank, St. Louis, has been
elected Chairman and Chief Executive Officer of UMB Bank, n.a.
Peter J. Genovese, currently Chairman of UMB Bank, St. Louis and Vice
Chairman of UMB Financial Corporation, will take on the title of President of
the holding company and remain in St. Louis.
"I am tremendously proud of Sandy and feel doubly proud that Crosby has the
great ability to assume such additional responsibility," said R. Crosby Kemper,
chairman of UMB Financial Corporation. "We have a team of the highest caliber
and these actions will enhance both UMB Financial Corporation and eScout.com.
The possibility of tremendous growth for both companies is unlimited."
UMB Bank, n.a., with $6.7 billion in assets, is a wholly owned subsidiary
of UMB Financial Corporation. The multi-bank holding company, with $8.1 billion
in assets, is headquarterd in Kansas City, Missouri, and operates more than 161
locations throughout Missouri, Illinois, Colorado, Kansas, Nebraska and
Oklahoma.
