UMB Bank opened a new office in New York City which expands the capabilities of its investment banking division.
Kansas City-based UMB Bank, a subsidiary of UMB Financial Corp., has been involved in issuing and selling bank-qualified bonds to downstream correspondent banks for many years. But it really built out the business in April by adding 11 people in Dallas.
Now it’s adding five more people in New York, who give the bank the capability of issuing and selling bonds to institutional investors such as insurance companies and pension funds. The New York office also gives the investment banking operation a nationwide footprint.
The New York team includes Stephen Madden, principal of the office and an underwriter. Jim Leonard and Todd Rogers are senior investment officers, responsible for institutional sales covering mutual funds, insurance companies, hedge funds and money managers. William Conroy is a municipal bond trader who will align with the operation in Kansas City but focus on bonds in the Northeast. John O’Connell is a fixed-income specialist who will support sales, trading and underwriting and handle operations for the office.
Read more: Kansas City Business Journal