Commerce Bancshares in Kansas City, Mo., has hired a PrivateBank executive to run its St. Louis operations.

The $24 billion-asset company said in a press release Thursday that Robert Holmes will become president and chief executive of its St. Louis market on March 31. Holmes will succeed John Schreiber, 64, who will become vice chairman of the St. Louis market and oversee some specialty business lines before retiring at the end of this year. Holmes will also oversee Commerce's lending offices in Cincinnati and Nashville, Tenn.

Holmes, who was named an executive vice president at the company, will also take over some duties currently held by Vice Chairman Seth Leadbeater. The company said that Leadbeater, 64, plans to retire next year.

Holmes had been a management director and head of regional banking for PrivateBank, a unit of PrivateBancorp in Chicago.

Holmes' "leadership, experience, and deep banking roots in St. Louis and beyond will further strengthen and expand our commercial banking reach and capacity," John Kemper, Commerce's president and chief operating officer, said in the release.

Schreiber, who joined Commerce as president in 2000, will assume the role of vice chairman of the St. Louis market following Holmes' arrival to manage the transition and oversee some specialty business lines.

Commerce is the fourth-biggest bank in St. Louis, with 6.3% deposit market share at June 30, according to the latest data from the Federal Deposit Insurance Corp.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.