Richard Russell is no longer with Missouri Trust & Investment Co. after two years as its CEO.
SBJ file photo
Richard Russell is no longer with Missouri Trust & Investment Co. after two years as its CEO.

Missouri Trust CEO exits

Posted online

Missouri Trust & Investment Co. CEO Richard Russell quietly exited the firm.

Company President Tim Parrish told a Springfield Business Journal researcher that Russell "is no longer with the company." Parrish declined to comment when reached for follow-up questions.

Russell's LinkedIn profile indicates he left Missouri Trust in March after two years as its CEO. He has not listed a new job. As of this morning, Missouri Trust's website continued to list Russell as CEO and board member. Russell could not be reached immediately for comment by deadline.

Russell joined the company in 2018 after previously serving as president and general counsel for insurance firm Ollis/Akers/Arney. When Missouri Trust was founded in 2017, Parrish was its CEO, according to SBJ archives.

With Russell at the helm, Missouri Trust last year sought additional capital to acquire an undisclosed Missouri-based company outside of the Springfield market. In September 2019, SBJ reported paperwork related to the planned acquisition had not yet been filed with the Missouri Division of Finance, the state agency that must approve the transaction.

Dave Doering, chief examiner for the Division of Finance, this morning said via email an acquisition application has not been sent to the office. Missouri Trust has not announced an acquisition.

Missouri Trust, a Springfield-based, state-chartered independent trust company, managed roughly 200 accounts and $132.8 million in assets at end of 2019, Parrish reported. That’s up from $99.4 million in 2018.