UMB Announces Leadership Changes for Healthcare Services

KANSAS CITY, Mo.--()--In a strategic move that will support the continued growth of its Healthcare Services division of UMB Bank, n.a., UMB Financial Corporation (Nasdaq: UMBF) announces several key leadership changes that will be effective June 1, 2015. Dennis Triplett will be named chairman, Begonya Klumb will be promoted to chief executive officer and Ben Morris will become president.

Triplett will assume the role of chairman following his current tenure as CEO. Triplett has led the UMB Healthcare Services division for the past 11 years and has grown the business’ health savings account (HSA) deposits to more than $1 billion and more than 600,000 accounts as of Jan. 31, 2015. In his new role, Triplett will continue to provide strategic direction and insights to the leadership team, as well as focus on government relations, business development and acquisition opportunities for Healthcare Services.

“This is an exciting time for UMB Healthcare Services, and we are confident in the abilities of these talented individuals to continue to grow this business into the future with innovative healthcare payment solutions, superior technology and outstanding client service,” said Peter deSilva, president and chief operating officer of UMB Financial Corporation. “Dennis has done a tremendous job building this business from the ground up since day one. I have every confidence in the abilities of this newly-expanded leadership team to continue to build on that momentum.”

Klumb will be promoted to CEO from her current position as executive vice president, chief strategy officer, UMB Financial. Klumb has been with UMB for 12 years where she has held various roles, and most recently had responsibility for leading all mergers and acquisition activity. This includes the most recent acquisition of Marquette Financial Companies and UMB’s successful capital raise in 2013.

Morris will be promoted to president from his current position as senior vice president, sales manager for wholesale partnerships. Morris has been with UMB for 16 years and has spent the last 12 years as a leader in the Healthcare Services organization, where he has helped to grow UMB’s benefits cards and was instrumental in the launch of various healthcare products, including payer-to-provider virtual cards and UMB’s claims portal.

“As we continue to grow and expand our products and services to our clients nationwide, it is essential that we have a team of experienced and dedicated leaders to manage that growth,” said Triplett, CEO of UMB Healthcare Services. “I am so pleased to have the opportunity to work with Begonya and Ben to continue shaping the future of UMB Healthcare Services.”

Since the inception of Medical Savings Accounts in the late 1990s, UMB Healthcare Services has been a financial services leader in the health care market place. Today, UMB is a leading provider of a suite of health care payment solutions, including multi-purpose card technology supporting HSAs, FSAs and HRAs.

Funds in an HSA Base Account are held at UMB Bank, N.A., Member FDIC.

About UMB:

UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors. For more information, visit umb.com, umbfinancial.com, blog.umb.com or follow us on Twitter at @UMBBank, Facebook at facebook.com/UMBBank and LinkedIn at linkedin.com/company/umb-bank.

Contacts

UMB Financial Corporation
Kelli Christman, 816.860.5088
Kelli.Christman@umb.com

Release Summary

In a strategic move that will support the continued growth of its Healthcare Services division of UMB Bank, n.a., UMB Financial Corporation (Nasdaq: UMBF) announces several key leadership changes.

Contacts

UMB Financial Corporation
Kelli Christman, 816.860.5088
Kelli.Christman@umb.com