Kris Robbins
UMB FINANCIALAbout Kris A. Robbins
Kris A. Robbins, age 66, has served on UMB Financial Corporation’s board since 2000 and is classified as an independent director under SEC and NASDAQ rules . He is an Audit Committee financial expert and currently chairs the Board’s Risk Committee, reflecting deep expertise in risk governance and financial oversight . His background includes over 30 years in financial services, with senior leadership roles across investments, insurance, and specialty finance .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Security Benefit Corporation | CEO; Chairman & CEO | 1997–Feb 2010 | Led >$40B AUM annuities/mutual funds/ETFs business; extensive operations, risk and capital management oversight |
| Clearleaf Finance | Co‑founder & CEO | 2010–present | Hedge fund manager in short-duration specialty assets; oversight of investment/risk processes |
| Purestone Loan Services | President | 2010–present | Servicing arm aligned to specialty finance activities |
| Compliance Assurance Corporation (PA) | Director; Audit Committee Chair | Through Nov 2012 | Governance and audit leadership until sale to Stone River Risk & Compliance |
| Key Health | Director; Audit Committee member | Apr 2011–2015 | Oversight of financial reporting and controls |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Clearleaf Finance | CEO | 2010–present | Specialty/asset‑based finance; private entity |
| Purestone Loan Services | President | 2010–present | Loan servicing aligned to specialty assets strategy |
Board Governance
- Committee assignments: Audit Committee member (financial expert designation); Risk Committee Chair; Board comprises four standing committees (Audit, Compensation, Governance, Risk) made up solely of independent directors .
- Independence: Determined independent; Board reviewed director banking relationships and found none requiring Item 404 disclosure; no relationships impairing independent judgment .
- Attendance and engagement: In 2024 the Board met six times; Audit met five; Risk met three; each director attended at least 75% of Board/committee meetings; independent directors held three executive sessions chaired by the Lead Director .
- Leadership structure: CEO also serves as Chair; strong independent oversight via Lead Independent Director (Greg M. Graves), serving ~8 years; leads independent sessions and agenda-setting .
- Related‑party transactions oversight: Audit Committee reviews and approves related‑person transactions under a formal policy; none reported involving Mr. Robbins .
Fixed Compensation
| Component | Amount ($) | Detail |
|---|---|---|
| Annual Director Cash Retainer | 60,000 | Non‑employee director cash retainer for 2024 |
| Risk Committee Chair Retainer | 20,000 | Additional annual cash retainer for Risk Committee chair |
| Audit Committee Member Retainer | 15,000 | Additional annual cash retainer for Audit Committee membership |
| Total Cash Fees (2024 actual) | 95,064 | As reported for Kris A. Robbins in 2024 |
| 2024 Director Compensation | Cash Fees ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| Kris A. Robbins | 95,064 | 64,954 | 160,018 |
Notes:
- Director equity retainer: fully vested UMB stock with grant‑date target value of $80,000; reported stock award reflects the aggregate grant‑date fair value for the equity retainer earned in 2023 and issued Feb 2, 2024 .
Performance Compensation
- Directors do not receive performance‑based incentives, options, or PSUs; director equity consists of fully vested stock grants under the annual equity retainer .
- Clawbacks apply to executive incentive compensation; directors’ fixed/equity retainers are outside pay‑versus‑performance constructs used for NEOs .
Other Directorships & Interlocks
| Company | Public/Private | Role | Committee/Notes |
|---|---|---|---|
| Compliance Assurance Corporation (PA) | Private | Director | Audit Committee Chair; company sold Nov 2012 |
| Key Health | Private | Director | Audit Committee member |
- No public company directorships disclosed for Mr. Robbins; no interlocks reported with UMB customers/suppliers requiring Item 404 disclosure .
Expertise & Qualifications
- Audit Committee financial expert; financially sophisticated under SEC/NASDAQ rules .
- Risk management leadership (Risk Committee Chair); oversight of ERM policy, appetite statements, and global risk framework .
- Deep experience in operations, investments, insurance, and capital management from prior CEO roles; specialized knowledge in investments/risk management/insurance .
Equity Ownership
| Ownership Item | Value |
|---|---|
| Shares beneficially owned (Feb 28, 2025) | 6,799 |
| % of shares outstanding | <1% (72,655,215 shares outstanding) |
| Stock ownership guidelines | Directors must hold ≥5× annual equity retainer; all directors in compliance |
| Hedging/short selling | Prohibited for directors under Corporate Governance Guidelines |
Insider Trades
| Date | Type | Shares | Price | Source |
|---|---|---|---|---|
| Sep 6, 2024 | Sale | 5,000 | ~$102.5 (est.) | |
| Jan 31, 2025 | Acquisition (non‑open market) | 678 | $117.90 | |
| Jan 31, 2025 | Form 4 filing | — | — |
Note: Prices from third‑party trackers reflect Form 4 summaries; refer to the linked Form 4 PDF for authoritative details.
Governance Assessment
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Strengths:
- Independent director with Audit Committee financial expert designation; Risk Committee Chair—strong oversight of financial reporting and enterprise risk .
- Robust board processes: independent-only committees, active executive sessions, and formal related‑party policy; high attendance thresholds met .
- Director compensation is modest and balanced (cash + fully vested equity); no options; aligns with conservative pay practices .
- Shareholder support for executive pay was high (97.1% say‑on‑pay approval), indicating broader governance confidence .
-
Watch items / potential red flags:
- Board Chair/CEO dual role; mitigated by long‑tenured Lead Independent Director and independent committee structure .
- External specialty‑finance activities (Clearleaf/Purestone) could pose theoretical conflicts if transactions with UMB affiliates arose; however, no related‑party transactions reported for Mr. Robbins and policy requires Audit Committee review .
- Insider sale in Sept 2024; monitor trading patterns for alignment but note no director‑specific pledging or hedging is permitted under guidelines .