ST. LOUIS -- (Business Wire)

The Commerce Bancshares, Inc. board of directors today named John W. Kemper president and chief operating officer of Commerce Bancshares, Inc. In this position, Kemper will have responsibility for directing the company’s strategy and line operations, working closely with market and business line leadership. David W. Kemper, chairman of the board and chief executive officer of Commerce Bancshares, Inc., made the announcement.

John Kemper, President and Chief Operating Officer (Photo: Business Wire)

Since joining Commerce in 2007, John Kemper has served in a number of roles, leading bank strategy and M&A overseeing the bank’s credit card businesses; and serving as chairman of Capital for Business, the bank’s private equity subsidiary. Most recently, as Commerce Bancshares’ chief administrative officer, he assumed overall responsibility for bank credit and non-credit risk, legal, compliance and human resources.

“Over the last six years, John has distinguished himself by steering strategic planning for the company and by directly overseeing many of Commerce’s key growth areas,” David W. Kemper said. “John has shown strong leadership in working with all of our markets, lines of business, and internal support services and, as such, is well suited to undertake this new role and challenge.”

“I am honored to serve Commerce Bank in this role,” John Kemper said. “In this challenging time for the banking industry, Commerce is uniquely well positioned to navigate regulatory and economic change. We believe our bank’s super community model will continue to allow us to serve the communities where we live and work, and to do it with industry leading products and capabilities. We at the bank are all looking forward to a bright future, and I’m glad to help contribute to our success.”

Prior to joining Commerce, John Kemper worked as an engagement manager with the New York and Chicago offices of McKinsey & Co., a consultancy. There, he served blue chip clients in the financial services sector on a variety of strategy and operations projects.

Kemper has a B.A. in history and political science from Stanford University, a Master of Science degree in economic history from the London School of Economics, and an MBA from the Kellogg School of Management at Northwestern University in Chicago.

About Commerce Bank

Commerce Bank, is a subsidiary of Commerce Bancshares, Inc. (NASDAQ: CBSH), a $22.2 billion regional bank holding company. For more than 145 years, Commerce Bank has been meeting the financial services needs of individuals and businesses. Commerce Bank provides a diversified line of financial services, including business and personal banking, wealth management, financial planning, and investments through its affiliated companies. Commerce Bank operates in more than 360 retail locations in the Central United States and has a nationwide presence in the commercial payments industry. Commerce Bancshares also has operating subsidiaries involved in mortgage banking, leasing, credit-related insurance, and private equity and real estate activities.

For additional information, please visit www.commercebank.com.

Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130208005820/en/

Contacts:

Commerce Bancshares, Inc.
Molly Hyland, 314-746-3657
Molly.hyland@commercebank.com
or
Maura Schnoebelen, 314-746-8567
Maura.schnoebelen@commercebank.com

Source: Commerce Bancshares, Inc.