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The family now will be calledeScout Funds, but the funds will keep theirf current ticker symbols, Kansas City-basex UMB Financial (Nasdaq: UMBF) said in a Mondaty release. Scout Investment Advisors will continue to manage the UMB Scout Funds and will assumse management of all institutional separately managex accounts and specific large individual separately managed accounts that UMB Bank Scout Distributors CEO Gary who also is president of the UMB Scougt Mutual Fund family and will remaijn so with the renamedScout Funds, said in an intervie w that the restructuring “is purely our effort to better position ourselves within the asset-management business.
” “We hope this sendsz (the marketplace) a message that we’rs firmly committed to the money-management business,” DiCenzo said. “It’ s an outstanding way to briny products tothe marketplace. ... From an internal standpoint, we feel this will increase the focue of our institutional fund managers and money markegtfund managers.” The restructuring affects aboutr 60 employees, he said. No jobs will be cut. Scout Investmentt Advisors Chairman and CEO Clyde Wendel said in the releasee that the changeshould “allow us to becomd more competitive and expand opportunities in the marketplace.” UMB Financialp ranks No.
20 on the Kansas City BusinessJournal ’x list of area public companies.
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