Cumberland Trust Reaches $6B in Assets Under Administration, Promotes Veteran Employees to Executive Management

Dec 15, 2022 | Trust in the News

Cumberland Trust, a Nashville-based independent trust company, announces the appointment of veteran employees Chris Buckley and Lori Thoeny to the firm’s executive management team. These promotions occur as the company achieves an important milestone of reaching $6 billion in assets under administration.

Buckley was promoted to Chief Fiduciary Officer and Thoeny to Chief Strategy Officer. Along with new titles, the latest additions to the executive management team have enhanced responsibilities. Buckley, who has been with the company since 2006, previously served as Senior Vice President and Managing Director, Head of Administration. He will continue to lead the Trust Administration team and will be responsible for the oversight of the fiduciary services of the company. Thoeny joined the company in 2008 and most recently held the role of Senior Vice President, Managing Director, Corporate Strategy. She will continue to lead the Strategy, Marketing, and Human Resources teams and be responsible for the oversight and execution of the company’s business strategy and processes.

“Cumberland Trust specializes in people – which not only includes taking care of each unique individual client and situation, but also enlisting natural leaders like Chris and Lori to strategically guide the company,” said Jennie Menzie, President and Chief Operating officer of Cumberland Trust. “We’re proud to place them in executive positions which ensure their leadership will continue to positively shape our work for our clients and drive the company forward.”

As an independent, administration-only corporate trustee, Cumberland Trust is a neutral third party that handles the day-to-day administration of personal trusts and estates—a unique solution for families with complex assets and family situations. This model allows Cumberland Trust to collaborate with the client’s financial advisor, estate planning attorney, and accountant to help guide the wealth transfer process. Over the years, Cumberland Trust has developed special expertise and dedicated teams to provide administration services in the areas of personal trusts, special needs trusts, family foundations, and special assets.

“Chris and Lori have played invaluable roles in making Cumberland Trust the company it is today, and we greatly appreciate their leadership,” said Joseph Presley, Chairman & CEO of Cumberland Trust. “Their new positions are well deserved. Because of their dedication to our clients, Cumberland Trust continues to make a lasting impact on the trusts and estates industry.”

Cumberland Trust employs more than 125 people and continues to maximize growth while offering best-in-class service to clients in 47 states. The state of Tennessee remains a desirable trust haven, with recent revisions to the Tennessee Trust Code that will make it even more competitive in the market.

Cumberland Trust has reached $6 billion in assets under administration and the company continues to deepen its reach in regional markets with additional offices located in Atlanta, Austin, Chattanooga, Dallas, Knoxville, Memphis, Philadelphia, St. Louis, and Tampa-St. Pete.