UMB Bank, a subsidiary of UMB Financial, has established a new office in Dublin, Ireland, to offer aviation trust services through its Specialty Trust and Agency Solutions group.
The development follows UMB’s inclusion as an approved trustee for the Global Aircraft Trading System (GATS), developed by the Aircraft Working Group last year.
Go deeper with GlobalData
UMB will carry out its Irish operation through UMBF Trust and Agency Services (Ireland) (UMBFT&A).
UMBFT&A managing director Katherine O’Brien will oversee the Dublin office.
O’Brien, who has over ten years of aviation experience, was most recently vice president of treasury at DAE Capital, which acquired Irish aircraft company Ansett Worldwide Aviation Services in 2017.
UMB already operates in the aviation space internationally. The new office will enable the bank to offer the Irish Owner Trustee product to its clients globally.
Commenting on the development, UMB executive director of Specialty Trust and Agency Solutions Mark Flannagan said: “We are very excited to extend our reach in the commercial aircraft trust space by establishing an Irish office.
“This is a natural growth opportunity for UMB as we continue to build our services to meet the needs of the global aircraft market. With more than 75 years of corporate trust experience, this office is yet another tremendous step forward for our business and highlights our commitment to providing a full suite of specialty trust and agency solutions worldwide.”
Flannagan added: “In addition to reflecting the persistent growth of UMB’s institutional services, the opening of our Irish office allows us to build our presence as a trustee in the most important geographic location for future aircraft leasing activity.”
