St. Louis, MO – July 6, 2022 – Ray Stranghoener, chairman of Commerce Trust, a division of Commerce Bank, retired June 30 after 23 years of service. Stranghoener joined Commerce in 1999 to lead the bank’s new wealth management department, known then as the Investment Management Group. Under Stranghoener’s leadership, the department grew into a full-service trust company that offers clients objective wealth management advice and premier, personal service.
During his tenure, Stranghoener branded the department Commerce Trust, made significant investments in systems and technology, supported the development of an open architecture investment platform, incorporated private banking in wealth management, and expanded the financial advisory services offering to include financial planning, tax services and a variety of family office services. He served as the president and chief executive officer of Commerce Trust until February 2018 when he tapped his successor, John Handy, to lead the organization.
“Ray and I have worked together for more than 20 years,” said Handy, president and chief executive officer, Commerce Trust. “It has been my pleasure to work with Ray and the team to grow the business to over $65 billion in client assets.1”
In his role as chairman, Stranghoener shifted focus to supporting account teams on select client relationships and successfully leading the execution of Handy’s strategy for divesture of Commerce Trust’s corporate trust business.
“As I reflect on my time at Commerce, I am most proud of the Commerce Trust team and very appreciative of their hard work and dedication to our clients,” said Stranghoener. “I really enjoyed working with them over the years and now I look forward to more time with my family and traveling.”
About Commerce Trust
Since 1906, Commerce Trust, a division of Commerce Bank, has been a leading provider of investment management, financial planning, trust and private banking services. Commerce Trust provides a full range of wealth and investment planning services for individuals and institutions to help clients achieve their long-term financial goals.
1 Based on Assets Under Administration as of March 31, 2022