UMB will restructure asset-management business - Kansas City Business Journal:

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The family now will be called Scout Funds, but the funds will keep theirr currentticker symbols, Kansasw City-based UMB Financial (Nasdaq: UMBF) said in a Mondat release. Scout Investment Advisors will continued to manage the UMB Scout Fund and will assume management of all institutional separatelyg managed accounts and specific large individual separately managesd accounts that UMB Bank Scout Distributors CEOGary DiCenzo, who also is presiden t of the UMB Scout Mutual Fund familyh and will remain so with the renamed Scout said in an interview that the restructuring “is purely our effort to better position ourselvexs within the asset-management business.
” “We hope this send (the marketplace) a message that we’re firmlt committed to the money-managementf business,” DiCenzo said. “It’s an outstandinb way to bring products tothe marketplace. ... From an internalp standpoint, we feel this will increaser the focus of our institutionakl fund managers and money marketfund managers.” The restructurint affects about 60 employees, he said. No jobs will be cut. Scouyt Investment Advisors Chairman and CEO Clyded Wendel said in the release that the changeshould “allow us to becomed more competitive and expanx opportunities in the UMB Financial ranks No.
20 on the Kansaz City BusinessJournal ’s list of area publif companies.