UMB Fund Services, a division of UMB Financial, and its alternative investment servicing division JD Clark have promoted two executives.
Lonnie Macdonald (pictured) has been promoted to executive vice president and director of business development for UMB Fund Services.
With more than 20 years in the mutual fund industry, Macdonald joined UMB Fund Services in September 2007 as senior vice president and manager of business development.
Since joining the company, he has been instrumental in enhancing the brand of the firm in the marketplace, improving sales results, expanding the company’s product offering, and identifying acquisition candidates, including the recently acquired hedge fund service provider JD Clark.
“Lon has brought tremendous value to our organization,” says John Zader, chief executive officer at UMB Fund Services. “He has substantially improved our business development and marketing efforts and has identified acquisition and growth opportunities for UMBFS. As he continues to work to build our brand and reputation in the fund servicing marketplace as a premier provider of high-quality services, we are pleased to recognize his contributions with this promotion.”
Richard Outridge has been promoted to chief operating officer for JD Clark. He reports jointly to Zader, chief executive of UMB Fund Services (JD Clark’s parent company), and to Jeff Clark, chief executive of JD Clark.
Outridge’s major focus in 2010 is building a suite of middle-office services for alternative investments, which are to be rolled out by third quarter 2010. He will oversee the conversion of the alternative investment administration services of UMB Fund Services to the JD Clark platform.
Outridge joined UMB Fund Services in September 2008 as senior vice president and director of alternative investment services. When UMB Fund Services acquired JD Clark in May 2009, he became part of the JD Clark operation and began the process of integrating the existing alternative investments operations of UMB Fund Services into JD Clark.
“Richard brings a wealth of knowledge and experience that is invaluable to JD Clark as we continually develop and enhance our product offerings for clients,” says Zader. “His expertise will be a great asset as we roll out our exciting new middle-office service suite and work to cement JD Clark’s position as an industry leader in innovation and service.”