Seeking to drop expenses, UMB is laying off executives

With expenses for interest and noninterest income rising during the second quarter, UMB Financial Corp. has been quietly laying off executives as it seeks ways to find better efficiency. UMB Financial Chairman Mariner Kemper said UMB Bank’s Retail Banking department was combined with its Wealth Management department under one executive. The company also combined the Consumer office and Private Wealth office into one division called Personal Banking, and it combined Institutional Asset Management…