UMB Bank is expanding its California footprint in the municipal and corporate trustee space by hiring 13 people from Wilmington Trust and opening an Orange County office.
John Deleray, as national sales manager, and Jeanie Mar, as regional manager, will lead the team in the Corporate Trust and Agency Services group primarily dedicated to municipal and corporate trustee, escrow and paying-agent services.
The pair helped build Wilmington Trust's California office when it entered the state in 2011; and the 13 new UMB employees are coming over from that bank.
"We're thrilled with the opportunity to expand UMB's national reputation as a public finance trustee to the west coast and to grow UMB's national dedicated effort in M&A administration," Deleray said in a statement.
All but two of the new hires will be based at the new Costa Mesa office, which will also house workers from the Corporate Trust's CLO Trustee and Loan Administration team.
A second team led by Ali Naqvi, also a national sales manager, and Jane Snyder, as regional manager, will specialize in complex mergers and acquisitions transactions.
"We've been growing our corporate trust business by double digits year after year and expect that to continue," Austin Braithwait, executive vice president and executive managing director for corporate trust and agency services, said in a statement. "John Deleray and Ali Naqvi are among the best-known corporate trust leaders in the western U.S. We are honored to welcome them and this entire group of stellar professionals."
The expansion of the Corporate Trust and Agency Services group, which falls under the institutional banking division, builds on the bank's entry earlier this year into commercial and retail banking in the state when UMB acquired HTLF Bank, and its California division, Premier Valley Bank, according to a news release.
"UMB's infrastructure, senior management and commitment to our product lines combined with the talented, experienced team we're bringing over is going to produce one of the strongest corporate trust offices in the nation," Deleray said.
"The goal has always been the same — to be the easiest and most flexible escrow and paying agent to work with," said Naqvi. "UMB is providing us the perfect platform to accomplish that."
Deleray, Mar, Naqvi and Snyder's first day with UMB was Tuesday. The remaining new hires will be coming on board over the next few weeks.
