Cumberland Trust Expands C-Suite as Company Surpasses $3.5 Billion in Assets Under Administration

Nashville-based independent trust company reaches new milestone, expands roles and responsibilities of executive team to strengthen market position

NASHVILLE, Tenn.--()--Cumberland Trust, a Nashville-based independent corporate trust company, today announces that it has surpassed $3.5 billion in assets under administration. This milestone is further evidence that the firm’s collaborative approach to trust and estate service continues to resonate strongly among its clients and advisors across the U.S.

To maximize growth while continuing to offer best-in-class service, Cumberland Trust promoted three of its executive team members to c-suite roles:

“Runcie, Michelle and Jennie have all played invaluable roles in making Cumberland Trust the company it is today, relied on by so many individuals and families across the country to preserve legacy and protect relationships,” said Joseph K. Presley, Chairman, President and CEO of Cumberland Trust. “Their new roles are well deserved. Because of them, our company is making a lasting difference in the trust and estate industry.”

With new titles, the c-suite members have enhanced responsibilities. Clements, who leads the company’s legal and compliance team, will continue his overall advisement and work hand in hand with the rest of the executive team on smart, strategic growth. Diamond will seek to grow Cumberland Trust’s national footprint and establish new regional offices as well as continue to oversee the existing regional offices. In addition to leading corporate and administration teams, Menzie will identify efficiencies within the company, refining company structure, and will travel to establish new growth markets and initiatives.

Since Cumberland Trust opened in Nashville in 2001, it has expanded its national footprint to include 10 offices serving clients in 48 states and has more than 100 employees. In the fall of 2018, it expanded, taking over the top floor of its Burton Hills headquarters.

For information on Cumberland Trust, visit

Bio Information

C. Runcie Clements, IV

Clements previously served as Executive Vice President and General Counsel at Cumberland Trust, heading up the legal and compliance department, made up of attorneys, compliance officers and specialists. Prior to joining Cumberland Trust, Clements was the Charitable Giving Counsel for the American Cancer Society where he advised nationwide staff on legal and tax issues in the areas of planned giving, outright gifts and other charitable giving arrangements. He has also worked in a private legal practice in the areas of estate planning, taxation and real estate. He is a licensed attorney and CPA.

Clements is a graduate of Baylor University with a B.B.A. in Accounting. He received his J.D. from Vanderbilt University.

Michelle R. Diamond

Diamond previously served as Executive Vice President and Director of Business Development & Regional Offices at Cumberland Trust. As the company grew, Diamond developed the blueprint for expansion into regional markets and she worked to open the nine regional offices. Prior to joining Cumberland Trust, she was a Trust Officer at First Tennessee providing account and administration support to families in the areas of personal trust, employee benefits and investment management.

Diamond holds a B.A. in Business Administration from Hanover College in Hanover, Indiana. She was awarded the Certified Trust and Financial Advisor Designation (CTFA) and is a graduate of Cannon Trust School through Cannon Financial Institute.

Jennifer Karrels Menzie

Menzie previously served as Executive Vice President, Director of Strategic Planning and Assistant General Counsel of Cumberland Trust. She led and managed the external and internal strategic initiatives for Cumberland Trust and oversees Cumberland’s long-range planning goals. Prior to joining Cumberland Trust, Menzie served as Vice President at Thompson & Associates, working in the area of charitable estate planning. Her past experience includes Assistant General Counsel of WebMD Envoy, Senior Tax Consultant at Arthur Andersen and practicing attorney with the firm of Waller Lansden Dortch & Davis. She is a licensed attorney.

Menzie holds a B.S. in Business Administration from Auburn University. She received her J.D. from Vanderbilt School of Law and holds a Masters in Taxation (LL.M.) from the University of Florida School of Law. She is a Fellow in Charitable Estate Planning from the Institute of Charitable Estate Planning.

About Cumberland Trust

Headquartered in Nashville, Tennessee, Cumberland Trust is a trust services firm founded in 2001 to focus on families. As a trusted advisor, at Cumberland Trust we work with our clients’ accountants, estate planning attorneys, financial advisors and others to ensure that each family’s needs are met and that their values extend across generations. We achieve that with a team of individuals at Cumberland Trust who are the very best in the personal trust industry. From dealing with blended families, aging adults, special needs or other modern dynamics, we have the experience to help clients and their advisors through difficult scenarios towards the goal of continued legacy.


Sara Pruneski, 615-242-8856

Release Summary

Nashville-based independent trust company reaches new milestone and promotes three to c-suite


Sara Pruneski, 615-242-8856