UMB Bank, n.a., a subsidiary of UMB Financial Corporation (Nasdaq: UMBF), today announces it has been selected to serve as custodian for the Colorado Local Government Liquid Asset Trust (COLOTRUST), a local government investment pool established in 1985 that is available to any Colorado county, city, town, school district, special district, or other political subdivision.

UMB will provide customized custody solutions for COLOTRUST. Public Trust Advisors serves as the Program Administrator for COLOTRUST. Founded in 2011, Public Trust is an independent investment advisor that specializes in managing and servicing the investment needs of local governments across the United States. With the selection of UMB, the bank’s relationship with Public Trust continues to expand as the firm also works with UMB’s Corporate Trust division.

“We are excited to expand our work with Public Trust and provide custody solutions for COLOTRUST following our successful implementation with Texas CLASS,” said Amy Small, SVP, Director of Institutional Custody at UMB. “Through our high-touch client service and integrated banking solutions, we are proud to support Public Trust and continue the growth of our government custody offering.”

UMB’s appointment as custodian continues the custody business’ rapid growth within the government sector, including its recent appointment as custodian for the Texas Cooperative Liquid Assets Securities System Trust (Texas CLASS), a local government investment pool established in 1996 that is available to all Texas municipalities, counties, school districts, authorities, and other local government entities.

“Public Trust has had exceptional experiences with UMB’s corporate trust team and is excited to expand our relationship to include custody services,” said Matt Starr, Director of Client Relations for Public Trust Advisors. “UMB has showcased the breadth of its capabilities as a service provider in an effort to maximize value for us and our clients, and we look forward to the continued growth of our business relationship.”

As of Sept. 30, 2021, more than 25% of UMB’s AUC are in the government space. Overall, since the beginning of 2021, UMB has increased its custody client portfolio by more than 12% and assets under custody (AUC) by more than 40%, while surpassing $150 billion in AUC—representing a 150% increase since 2018.

As one of the nation’s leading custodians, UMB Bank is a trusted partner to safeguard and service domestic and global assets. UMB provides high-touch client service and offers straight-through transaction processing, deep investments in technology, robust security designed to accommodate the data requirements of complex holdings, online portal capabilities, and cash management services to support clients’ needs.

About Public Trust Advisors:

Public Trust Advisors, LLC (Public Trust) is an investment advisory firm based in Denver, Colorado that provides investment management services for the public sector including the management of local government investment pools and separately managed accounts. Public Trust offers public sector clients high-quality, cost-efficient investment management services that rely on market experience and proven processes. With coverage spanning the nation, Public Trust works closely with thousands of local governments to develop and implement comprehensive and highly communicative investment strategies that best meet our clients’ needs. For more information, please visit our website at www.publictrustadvisors.com and follow us on LinkedIn.

This press release is for informational purposes only and should not be considered a solicitation of investment advisory services. All comments and discussion presented are purely based on opinion and assumptions, not fact. These assumptions may or may not be correct based on foreseen and unforeseen events.

About UMB:

UMB Financial Corporation (Nasdaq: UMBF) is a financial services company headquartered in Kansas City, Missouri. UMB offers commercial banking, which includes comprehensive deposit, lending and investment services, personal banking, which includes wealth management and financial planning services, and institutional banking, which includes asset servicing, corporate trust solutions, investment banking, and healthcare services. UMB operates branches throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, and serves business and institutional clients nationwide. For more information, visit UMB.com, UMB Blog, UMB Facebook and UMB LinkedIn, or follow us on Twitter at @UMBBank. For information about UMB’s operations, approach and relief measures during the COVID-19 pandemic, please visit umb.com/COVID-19.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211216005603/en/