NASHVILLE, Tenn.--(BUSINESS WIRE)--The Board of Directors of Cumberland Trust, an independent trust company, today announced the appointment of Jennie Menzie as CEO and President. In addition to her role as CEO and President, Menzie will continue to serve on the Cumberland Trust Board of Directors. The former CEO, Joseph K. “Pepe” Presley, will serve in the role of Executive Chairman of the Board of Directors. This leadership transition occurs as Cumberland Trust marks 22 years in service guiding families through the wealth transfer process.
“Jennie’s strong industry knowledge, strategic mindset, and visionary leadership make her uniquely qualified to serve as CEO and President. I know she will continue to be instrumental in guiding the company forward and making a lasting impact on the trusts and estates industry,” said Presley.
Menzie joined Cumberland Trust in 2012 and has served as President, Chief Operating Officer, and Corporate Counsel since 2021. In her newly elected role as CEO and President, Menzie will drive the company’s vision for the future while continuing to lead strategic initiatives and oversee the company’s long-term planning goals.
Prior to joining Cumberland Trust, Menzie served as Vice President at Thompson & Associates focused on charitable estate planning, Assistant General Counsel of WebMD Envoy, Senior Tax Consultant at Arthur Andersen, and practicing attorney at Waller Lansden Dortch & Davis.
“I am enthusiastic and honored to serve as CEO and President of Cumberland Trust. I am grateful for this opportunity to lead the company forward and thankful to Pepe for his leadership and guidance, which has been instrumental in making Cumberland Trust the company it is today,” said Menzie.
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.
As an independent, administration-only corporate trustee, Cumberland Trust is a neutral third party that handles the day-to-day administration of personal trusts and estates—a unique solution for families with complex assets and family situations. This model allows Cumberland Trust to collaborate with the client’s financial advisor, estate planning attorney, and accountant to help guide the wealth transfer process. Over the years, Cumberland Trust has developed special expertise and dedicated teams to provide administration services in the areas of personal trusts, special needs trusts, family foundations, and special assets.
Cumberland Trust employs more than 125 people and continues to maximize growth while serving clients in 47 states. The state of Tennessee remains a desirable trust jurisdiction, with recent revisions to the Tennessee Trust Code that will make it even more competitive in the market.
Cumberland Trust has reached more than $6.5 billion in assets under administration and the company continues to deepen its reach in regional markets with additional offices located in Atlanta, Austin, Chattanooga, Dallas, Knoxville, Memphis, Philadelphia, St. Louis, and Tampa-St. Pete.
About Cumberland Trust
Cumberland Trust is a Nashville-based independent trust company experienced in guiding the wealth transfer process to help families protect their legacies. We provide proactive trust and estate administration, working in conjunction with the client’s team of attorneys, investment advisors, and accountants. Cumberland Trust’s client-first services and directed trust platform have attracted more than $6.5 billion in assets under administration with ten offices serving families nationwide. For more information on Cumberland Trust and how we work with professional advisors and their clients, visit cumberlandtrust.com.