UMB Corporate Trust & Escrow Services, a division of UMB Financial Corporation (NASDAQ: UMBF), experienced a noteworthy increase in market share and number of paying agencies for the first half of 2012 compared to 2011, according to a quarterly rankings report issued by Thomson Reuters.
According to the report, UMB has moved up in ranking to third place, in terms of transactions, in the U.S. market for paying agent transactions, with a 7.7 percent increase in market share from 2011 to 2012. UMB also continues to solidly occupy the fourth-place ranking for municipal bond trustees nationally.
“These rankings once again demonstrate that our customer-focused, regional bank-based business approach is effectively addressing the needs and desires of our Corporate Trust clients,” said Todd Duncan, executive vice president of UMB Corporate Trust & Escrow Services. “Additionally, we believe our expert relationship managers, all of whom are Certified Corporate Trust Specialists, along with our technological capabilities are key considerations to UMB being a provider of choice in this area.”
For more than 60 years, UMB Corporate Trust & Escrow Services has been a leading provider of escrow agent services as well as trustee and agency services for taxable and tax-exempt debt (both publicly-sold and privately-placed) in the municipal and corporate marketplace. UMB services more than 6,400 escrow and debt transactions and has more than $55.2 billion in principal outstanding in our trustee and agency appointments. With offices located in Kansas City, St. Louis, Denver, Oklahoma City, Wichita and Minneapolis, and more than 58 corporate trust professionals, UMB is uniquely structured to meet the needs of the Midwest, Rocky Mountain and national municipal and corporate marketplaces.Additional information about UMB Corporate Trust & Escrow Services and its full line of products can be found at umb.com/corporatetrust. About UMB: UMB Financial Corporation (NASDAQ: UMBF) is a financial services holding company headquartered in Kansas City, Mo., offering complete banking, payment solutions, asset servicing and institutional investment management to customers. Its banking subsidiaries own and operate banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. Subsidiaries of the holding company and the lead bank, UMB Bank, n.a., include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisor that manages the company's proprietary mutual funds and investment advisory accounts for institutional customers. For more information, visit umb.com or follow us on Twitter at @UMBBank.