Cumberland Trust Expands C-Suite as Company Surpasses $3.5 Billion in Assets Under Administration

Nashville-based independent trust company reaches new milestone,
expands roles and responsibilities of executive team to strengthen
market position

NASHVILLE, Tenn.–(BUSINESS WIRE)–Cumberland
Trust, a Nashville-based independent corporate trust company, today
announces that it has surpassed $3.5 billion in assets under
administration. This milestone is further evidence that the firm’s
collaborative approach to trust and estate service continues to resonate
strongly among its clients and advisors across the U.S.

To maximize growth while continuing to offer best-in-class service,
Cumberland Trust promoted three of its executive team members to c-suite
roles:

• C.
  Runcie Clements, IV to Chief Legal Officer & General Counsel;
• Michelle
  R. Diamond to Chief Development Officer & Executive Director
  of Regional Markets; and
• Jennifer
  Karrels Menzie to Chief Operating Officer & Corporate Counsel.

“Runcie, Michelle and Jennie have all played invaluable roles in making
Cumberland Trust the company it is today, relied on by so many
individuals and families across the country to preserve legacy and
protect relationships,” said Joseph K. Presley, Chairman, President and
CEO of Cumberland Trust. “Their new roles are well deserved. Because of
them, our company is making a lasting difference in the trust and estate
industry.”

With new titles, the c-suite members have enhanced responsibilities.
Clements, who leads the company’s legal and compliance team, will
continue his overall advisement and work hand in hand with the rest of
the executive team on smart, strategic growth. Diamond will seek to grow
Cumberland Trust’s national footprint and establish new regional offices
as well as continue to oversee the existing regional offices. In
addition to leading corporate and administration teams, Menzie will
identify efficiencies within the company, refining company structure,
and will travel to establish new growth markets and initiatives.

Since Cumberland Trust opened in Nashville in 2001, it has expanded its
national footprint to include 10 offices serving clients in 48 states
and has more than 100 employees. In the fall of 2018, it expanded,
taking over the top floor of its Burton Hills headquarters.

For information on Cumberland Trust, visit http://cumberlandtrust.com/.

Bio Information

C. Runcie Clements, IV

Clements previously served as Executive Vice President and General
Counsel at Cumberland Trust, heading up the legal and compliance
department, made up of attorneys, compliance officers and specialists.
Prior to joining Cumberland Trust, Clements was the Charitable Giving
Counsel for the American Cancer Society where he advised nationwide
staff on legal and tax issues in the areas of planned giving, outright
gifts and other charitable giving arrangements. He has also worked in a
private legal practice in the areas of estate planning, taxation and
real estate. He is a licensed attorney and CPA.

Clements is a graduate of Baylor University with a B.B.A. in Accounting.
He received his J.D. from Vanderbilt University.

Michelle R. Diamond

Diamond previously served as Executive Vice President and Director of
Business Development & Regional Offices at Cumberland Trust. As the
company grew, Diamond developed the blueprint for expansion into
regional markets and she worked to open the nine regional offices. Prior
to joining Cumberland Trust, she was a Trust Officer at First Tennessee
providing account and administration support to families in the areas of
personal trust, employee benefits and investment management.

Diamond holds a B.A. in Business Administration from Hanover College in
Hanover, Indiana. She was awarded the Certified Trust and Financial
Advisor Designation (CTFA) and is a graduate of Cannon Trust School
through Cannon Financial Institute.

Jennifer Karrels Menzie

Menzie previously served as Executive Vice President, Director of
Strategic Planning and Assistant General Counsel of Cumberland Trust.
She led and managed the external and internal strategic initiatives for
Cumberland Trust and oversees Cumberland’s long-range planning goals.
Prior to joining Cumberland Trust, Menzie served as Vice President at
Thompson & Associates, working in the area of charitable estate
planning. Her past experience includes Assistant General Counsel of
WebMD Envoy, Senior Tax Consultant at Arthur Andersen and practicing
attorney with the firm of Waller Lansden Dortch & Davis. She is a
licensed attorney.

Menzie holds a B.S. in Business Administration from Auburn University.
She received her J.D. from Vanderbilt School of Law and holds a Masters
in Taxation (LL.M.) from the University of Florida School of Law. She is
a Fellow in Charitable Estate Planning from the Institute of Charitable
Estate Planning.

About Cumberland Trust

Headquartered in Nashville, Tennessee, Cumberland Trust is a trust
services firm founded in 2001 to focus on families. As a trusted
advisor, at Cumberland Trust we work with our clients’ accountants,
estate planning attorneys, financial advisors and others to ensure that
each family’s needs are met and that their values extend across
generations. We achieve that with a team of individuals at Cumberland
Trust who are the very best in the personal trust industry. From dealing
with blended families, aging adults, special needs or other modern
dynamics, we have the experience to help clients and their advisors
through difficult scenarios towards the goal of continued legacy.

Contacts

Sara Pruneski, 615-242-8856
sara@hallstrategies.com