UMB Financial, headquartered in Kansas City, Missouri, is buying the assets of Prairie Capital Management, an independent asset and wealth manager based in the same city.

Prairie, with offices in Kansas City, Denver, Chicago and Philadelphia, operates a national asset and wealth management practice serving a client base including high net worth private clients, family offices, trusts, foundations and endowments, corporations and plan sponsors.

Prairie will operate as an independent division within the UMB organization. The firm's founders and leadership team will continue to manage the business in their current roles.

Clyde Wendel, vice chairman, UMB Bank, said: "The addition of Prairie Capital Management reflects UMB's strategic focus to invest in and grow our wealth management business. The independent investment manager structure offered by Prairie will provide qualified UMB clients with an exciting and innovative range of new professional services."

UMB has 135 banking centers in Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona.