Nashville-based independent trust company reaches new milestone, expands roles and responsibilities of executive team to strengthen market position
NASHVILLE, TENN – Cumberland Trust, a Nashville-based independent corporate trust company, today announces that it has surpassed $3.5 billion in assets under administration. This milestone is further evidence that the firm’s collaborative approach to trust and estate service continues to resonate strongly among its clients and advisors across the U.S.
To maximize growth while continuing to offer best-in-class service, Cumberland Trust promoted three of its executive team members to c-suite roles:
- C. Runcie Clements, IV to Chief Legal Officer & General Counsel;
- Michelle R. Diamond to Chief Development Officer & Executive Director of Regional Markets; and
- Jennifer Karrels Menzie to Chief Operating Officer & Corporate Counsel.
“Runcie, Michelle and Jennie have all played invaluable roles in making Cumberland Trust the company it is today, relied on by so many individuals and families across the country to preserve legacy and protect relationships,” said Joseph K. Presley, Chairman, President and CEO of Cumberland Trust. “Their new roles are well deserved. Because of them, our company is making a lasting difference in the trust and estate industry.”
With new titles, the c-suite members have enhanced responsibilities. Clements, who leads the company’s legal and compliance team, will continue his overall advisement and work hand in hand with the rest of the executive team on smart, strategic growth. Diamond will seek to grow Cumberland Trust’s national footprint and establish new regional offices as well as continue to oversee the existing regional offices. In addition to leading corporate and administration teams, Menzie will identify efficiencies within the company, refining company structure, and will travel to establish new growth markets and initiatives.
Since Cumberland Trust opened in Nashville in 2001, it has expanded its national footprint to include ten offices serving clients in 48 states and has more than 100 employees. In the Fall of 2018, it expanded, taking over the top floor of its Burton Hills headquarters.
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