UMB Bank Grows CLO Division with New Expert Hires
UMB Bank, n.a., a well-respected subsidiary of UMB Financial Corporation (NASDAQ: UMBF), is excited to announce an expansion of its Collateralized Loan Obligation (CLO) division. This development features the hiring of experienced professionals Henry Brigham, Willis Hwang, and David Knecht, each of whom brings significant expertise to their new positions.
New Faces to Enhance the CLO Team
Joining the already established team led by Senior Vice Presidents Alex Cormas and Vincent Pham, these new hires are poised to strengthen UMB's presence in the CLO market. Their onboarding highlights UMB’s dedication to addressing the growing demand for CLO services in a fast-changing investment environment.
Introducing the New Team Members
- Henry Brigham: In his role as team manager, Henry will oversee senior relationship management within the CLO group. Previously, he was a vice president at Wilmington Trust, where he focused on CLOs, Borrowing Base, and Loan Administration Services.
- Willis Hwang: As a relationship manager, Willis will support senior relationship management efforts. He previously worked at Wilmington Trust as a vice president and senior relationship manager for CLO Trustee.
- David Knecht: Serving as team manager, David will lead CLO business solutions and intelligence. Before this, he held the position of senior vice president at Wilmington Trust in the CLO Transaction Servicing Team.
Excitement for Growth and Service Quality
Vincent Pham shared his excitement about the new hires, saying, “We’re thrilled to welcome Henry, Willis, and Dave to our team. The timing of their appointments aligns perfectly with expanding our CLO administration platform. We’re eager to have them join us as we roll out our enhanced service offerings to meet the rising demands of both existing and future clients.”
Strategic Growth Initiative
The addition of these specialists is a strategic move by UMB to solidify its position in the CLO market and further enrich its service portfolio. The CLO division is key to UMB’s Corporate Trust and Agency Services group, which provides trustee and collateral administration services customized for investment managers overseeing loan portfolios in CLOs, business development companies, and private funds.
UMB's CLO services reflect a strong commitment to assisting investment managers as they navigate the increasing need for robust trustee support. Mark Flannagan, executive director of Specialty Trust and Agency Solutions at UMB, noted, “This trio brings exceptional expertise and strengthens our commitment to delivering top-notch service and expertise to our clients.”
About UMB Financial Corporation
UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services company based in Kansas City, Missouri. The organization offers a wide array of financial services, ranging from commercial and personal banking to institutional banking, including asset servicing and corporate trust solutions. With a growing network of branches across various states, UMB serves both business and institutional clients nationwide.
As UMB continues to expand, it remains focused on delivering outstanding service—not just in its traditional markets, but globally—catering to the diverse needs of a wide range of clients.
Frequently Asked Questions
What does the recent hiring at UMB Bank mean?
The recent hires are significant for UMB Bank's CLO division as they bring valuable experience and skills, enhancing the bank's ability to serve investment management clients more effectively.
What type of services does UMB's CLO division provide?
The CLO division at UMB offers trustee and collateral administration services tailored specifically for investment managers, including those involved with CLOs and other similar financial frameworks.
Who is in charge of 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 to strengthen the team further.
What is prompting UMB to expand its CLO services?
UMB is expanding its CLO services in response to the increasing demand from investment managers who require additional support and expertise when managing their portfolios.
What services is UMB Financial Corporation recognized for?
UMB Financial Corporation is recognized for providing a comprehensive range of financial services, including commercial and personal banking, wealth management, and institutional banking solutions.
