Commerce Bank opens the first office of its fiduciary division | Economic news



Although Commerce Bank has three locations in Tulsa, the finance company has been able to offer only limited services from its trust division, the Commerce Trust Company.

Ben Herrig of Commerce Trust said the arrangement was not ideal for Tulsa clients.

“We used to offer these services remotely,” he said. “We would have someone coming from Kansas City remotely, but having someone here quarterly was not the level of customer service we wanted to show.”

Commerce Trust, based in Missouri, has now opened a full office within the Commerce Bank branch at 5314 S. Yale Ave. The new office offers the full suite of Commerce Trust services including asset management, trust services, tax services and more for individuals, families, executives and business owners.

Herring said Commerce Bank was encouraged to expand its services in the Tulsa area after the company’s success in Tulsa since acquiring Summit Bank in 2013.

“It was time we could dedicate dedicated staff to the region,” he said.

Herrig himself is the first of Commerce Trust’s new staff in Tulsa. Immediately after graduating from the University of Missouri-Kansas City Law School in 2007, he joined the Kansas City office of Commerce Trust.

The plan is to hire four more employees of the Trust department by the end of the year, with the option to expand further if necessary.



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