UMB subsidiary completes acquisition of Indiana firm

A subsidiary of UMB Bank's holding company said today it has completed its acquisition of an Indiana firm.

Scout Investment Advisors closed on its purchase of Reams Asset Management Co., based in Columbus, Ind.

Reams managed more than $9.9 billion in fixed income assets. Its clients included Fortune 500 companies, large public pension funds, health care organizations and a variety of universities, foundations and endowments, Scout said in a news release. Reams' leadership will remain in their current roles in Columbus.

With the acquisition, financial terms of which were not disclosed, Scout has combined assets under management totaling $19.8 billion.

Scout is the institutional investment management arm of Kansas City, Mo.-based UMB Financial Corp.