Berkshire Global Advisors acted as financial advisor to Commerce Trust Company
Commerce Trust Company, founded in 1906, is a specialized division of Commerce Bank, solely focused on wealth management, investments and planning services for families and institutional clients. Commerce Trust works with clients in all 50 states and 26 countries around the world, helping them reach their goals with objective advice and a variety of tailored solutions. Commerce Trust oversees $52.9 billion in assets under administration, $33.1 billion in assets under management (AUM) and is ranked 19th nationally based on AUM.
UMB Financial Corporation (Nasdaq: UMBF) is a financial services company headquartered in Kansas City, Mo. UMB offers personal banking, commercial banking, healthcare services and institutional banking, which includes services to mutual funds and alternative-investment entities and investment advisory firms. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas.
This acquisition makes UMB the leading player in Missouri’s corporate trust market and strategically grows UMB’s corporate trust portfolio in Kansas. The sale of the corporate trust business allows Commerce to focus resources on its core operations.