Commerce Bank Promotes John Kemper to CEO | Local company

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Commerce Bancshares President and Chief Operating Officer John Kemper will succeed his father as the bank’s CEO.

Kemper, 40, joined the bank in 2007 and was chosen as COO in 2013.

His father, David W. Kemper, 67, has been running Commerce since 1988 and started working at the regional bank 10 years earlier.

David Kemper will remain active in banking management as executive chairman.

“This announcement reflects the culmination of a thoughtful and deliberate multi-year succession plan overseen by our board of directors,” said Andy Taylor, executive chairman of Enterprise Holdings, Inc. and member of the board and lead director. of Commerce Bancshares.

“John Kemper is clearly the right person to take on this role. This plan will ensure continuity and lay the foundation for continued growth and long-term returns for shareholders. “

John Kemper holds an MBA from Northwestern University and an MA in Economic History from the London School of Economics. He will be based at the bank’s headquarters in Clayton. The change is effective August 1.

Commerce Bank had nearly $ 25 billion in assets at the end of 2017 and operates 330 branches in the central United States. It is the third-largest retail bank in Saint-Louis, in terms of deposit market share.

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