UMB Bank Enhances Its CLO Services Team With New Leaders
UMB Bank Expands CLO Division with Expert Hires
UMB Bank, n.a., a prominent subsidiary of UMB Financial Corporation (NASDAQ: UMBF), is thrilled to announce the growth of its Collateralized Loan Obligation (CLO) division. This strategic enhancement is marked by the hiring of seasoned professionals Henry Brigham, Willis Hwang, and David Knecht, who bring a wealth of experience to their new roles.
New Additions to Strengthen the CLO Team
Joining a team already led by Senior Vice Presidents Alex Cormas and Vincent Pham, the new hires are set to elevate UMB's capabilities in the CLO market. Their appointment underlines UMB’s commitment to meet the increasing demands for CLO services in a rapidly evolving investment landscape.
Meet the New Team Members
- Henry Brigham: As team manager, he will oversee senior relationship management for the CLO group. He previously served at Wilmington Trust as vice president, focusing on CLO, Borrowing Base, and Loan Administration Services.
- Willis Hwang: A relationship manager, Hwang will support senior relationship management. His prior experience includes being a vice president and senior relationship manager for CLO Trustee at Wilmington Trust.
- David Knecht: Serving as team manager, Knecht leads CLO business solutions and intelligence. Before this role, he was senior vice president at Wilmington Trust in the CLO Transaction Servicing Team.
Excitement for Growth and Excellence
Pham expressed enthusiasm about the new hires, stating, “We are thrilled to welcome Henry, Willis, and Dave to our team. With the expansion of our CLO administration platform, the extensive experience they bring is perfectly timed. We are excited to have them on board as we deliver our expanded service offering to the market, meeting the growing demands of both current and future clients.”
Strategic Initiative for Growth
The recruitment of these experts is part of UMB's broader strategy to consolidate its position in the CLO market, further enhancing its service portfolio. The CLO division is integral to UMB’s Corporate Trust and Agency Services group, offering trustee and collateral administration services tailored for investment managers managing loan portfolios in CLOs, business development companies, and private funds.
UMB's CLO services reflect a commitment to supporting investment managers facing increasing pressure for enhanced trustee support. Mark Flannagan, executive director of Specialty Trust and Agency Solutions at UMB, stated, “This trio brings outstanding experience and further cements our commitment to providing clients with the highest level of expertise and service.”
About UMB Financial Corporation
UMB Financial Corporation (NASDAQ: UMBF) operates as a diversified financial services company headquartered in Kansas City, Missouri. UMB provides a variety of financial services, including commercial banking, personal banking, and institutional banking services encompassing asset servicing and corporate trust solutions. The company has a growing network, with branches located in various states, and caters to business and institutional clients nationwide.
As UMB continues to grow, it remains dedicated to offering exceptional service, not only in its traditional markets but also globally, fulfilling the needs of a diverse range of clients.
Frequently Asked Questions
What is the significance of the new hires at UMB Bank?
The new hires enhance UMB Bank's CLO division by bringing a wealth of experience and expertise, allowing the bank to better meet the needs of its investment management clients.
What services does UMB's CLO division offer?
UMB’s CLO division provides trustee and collateral administration services tailored to investment managers, including those in CLOs and other financial structures.
Who leads the newly expanded CLO team at UMB?
The CLO team is led by Senior Vice Presidents Alex Cormas and Vincent Pham, with the new hires joining under their leadership.
Why is UMB expanding its CLO services?
UMB is expanding its CLO services to meet the rising demand from investment managers seeking additional support and expertise in managing their portfolios.
What is UMB Financial Corporation known for?
UMB Financial Corporation is known for its comprehensive financial services, including commercial and personal banking, wealth management, and institutional banking solutions.
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