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 led Commerce since 1988 and started working at the regional bank 10 years before that.
David Kemper will continue to remain active in bank 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 Commerce Bancshares’ board member and lead director.
“John Kemper is clearly the right person to step into this role. This plan will ensure continuity and create the foundation for continued growth and long-term shareholder returns.”
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John Kemper has an MBA from Northwestern University and a master’s degree in economic history from the London School of Economics. He will be based out of the bank’s Clayton headquarters. The change is effective Aug. 1.
Commerce Bank had nearly $25 billion in assets at the end of 2017 and operates 330 branches in the central U.S. It’s the third-largest retail bank in St. Louis, based on deposit market share.
From left: John W. Kemper, David W. Kemper
John Kemper was named CEO of Commerce Bancshares effective Aug. 1, 2018.
Jacob Barker | Post-Dispatch
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