UMB Fund Services Inc., the Milwaukee-based division of UMB Financial Corp., added eight new clients in the third quarter of this year. The company has added a total of 27 new clients this year.
UMB Fund Services offers administration and fund accounting, investor services and transfer agency, marketing and distribution, custody and cash management services, alternative investment services and managed account services to clients in the fund industry.
The company has about 180 employees in its 70,000 square foot office at 803 W. Michigan St. in downtown Milwaukee.
Four of UMB Fund Services’ new clients from the third quarter have mutual funds that have joined the Investment Managers Series Trust co-sponsored by UMBFS and Mutual Fund Administration Corporation. The other four new clients are receiving hedge fund services through UMBFS’ alternative investments division, JD Clark & Company.
“We are very pleased with the continued strong pace of client growth in the third quarter,” said John Zader, chief executive officer of UMBFS. “In a challenging economy, achieving this level of growth in new business is particularly gratifying. We believe our focus on service and quality continues to resonate with prospective clients.”