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Rating:A Fund Shop and a Fund Servicer Say Goodbye to Their Overseer Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, November 05, 2015

A Fund Shop and a Fund Servicer Say Goodbye to Their Overseer

News summary by MFWire's editors

A Midwestern mutual fund shop and its mutual fund servicing sister company are saying goodbye to a Fido alumnus who has overseen them both.

Peter deSilva
UMB Financial Corporation
President, Chief Operating Officer
On Monday Kansas City, Missouri-based, publicly-traded UMB Financial Corporation confirmed the resignation of president, chief operating officer, and board member Peter deSilva. deSilva will stay on as vice chairman of UMB's bank through January 6.

Tony Fischer, head of mutual fund back office support shop UMB Fund Services, and Andy Iseman, head of mutual fund shop Scout Investments [profile], have reported to deSilva, and he has helped guide both organizations over the years, through multiple acquisitions and leadership changes]. UMB spokeswoman Kelli Christman confirms that Fischer and Iseman will now report to UMB Financial Corporation CEO and chairman Mariner Kemper, who is also taking up deSilva's president mantle.

American Banker, the Kansas City Business Journal, and the Kansas City Star all covered deSilva's resignation. UMB Financial Corporation's chief financial officer, executive vice president Brian Walker, also resigned on Monday, though he will stay on as chief accounting officer and senior vice president. UMB Bank CEO and UMB Financial Corporation vice chairman Michael Hagedorn is taking over as interim CFO during the search.

Kemper praises deSilva as having "boundless energy and a positive can-do spirit."

"Peter has been the consummate brand ambassador for UMB," Kemper states. "I'm incredibly thankful for Peter's vision, passion and all of his contributions during his 11 years with UMB ... We're excited for what he has planned next, and because it's Peter, we know it will be big. We wish him all the best."

An alumnus of UMass Dartmouth, deSilva joined UMB more than 11 years ago as president. Prior to that, he spent 17 years in a variety of jobs across Fidelity. And he managed a six-screen movie theater complex for eight years. 

Edited by: Neil Anderson, Managing Editor


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