Scout Investment Advisors Inc. announced Wednesday that it hired Andrew Iseman as its chief executive officer.

The Kansas City, Mo., based unit of UMB Financial Corp. hired Iseman from RK Capital Management in Denver, where he was its chief operating officer.

Iseman has more than 23 years of experience in the financial services industry. Before working at RK Capital, he was the chief operating officer for Janus Capital Group in Denver.

Peter deSilva, UMB Financial's chief operating officer, said in a press release that Scout will rely on Iseman to "help us accelerate the growth of Scout over the coming years.” Iseman will report directly to deSilva.

UMB has been working to expand its wealth management capabilities over the past several years. In June, it signed a definitive agreement to buy Prairie Capital Management LLC, an independent asset management and wealth management firm in based in Kansas City.

Scout is a national investment management firm that offers investment management services for both managed accounts and mutual funds. Scout Investment Advisors investment capabilities include domestic large cap, mid cap, small cap and fixed income. Scout Investment Advisors also offers international, international small/mid-cap and global equity portfolios.

Iseman will work with Scout's existing management team, which includes William Greiner, president and chief investment officer of Scout Investment Advisors and Gary DiCenzo, president and chief executive officer of Scout Distributors, LLC.

Iseman will take over as CEO on Aug. 30 and will be relocating to Kansas City.