David Hagee Appointed Commerce Trust Company Chief Investment Officer


Commerce Trust Company is pleased to announce important changes in key leadership roles for its investment management group, which oversees $65 billion in assets under administration for clients across the country.

J. J. Landers Carnal

J.-J. Landers Carnal, who charted the course for Commerce Trust Company’s investment group as Chief Investment Officer (CIO) for more than two decades, is retiring from his CIO role in September, but will remain President of Commerce Investment Advisors, Inc. (the SEC registered investment advisor to the Commerce Funds) and senior advisor to Trust Company President John Handy. 

David Hagee will succeed Landers Carnal as CIO, effective September 1.  Hagee, a 20-year veteran at Commerce Trust, is currently serving as Regional Director of Portfolio Management.  Carnal will transition his responsibilities to Hagee over the next several weeks.

Tara McConkey

Tara McConkey will succeed Hagee as regional director next month.  Tara is currently Senior Vice President and Senior Portfolio Manager within the family office services group of Commerce Trust Company.

“We are fortunate to have David’s extensive investment experience where he will be able to set the priorities for serving our clients’ investment needs for decades to come,” said Handy.  “Tara will apply her vast experience from her current role in bringing exceptional innovation to managing clients’ portfolios.  With these two key leadership changes and Landers’ continued presence at Commerce Investment Advisors, our clients will greatly benefit from their combined years of experience exceeding 50 years at Commerce alone.”

Carnal arrived at Commerce in 2000 and has been a key member of the team helping to build the company to $65 billion in assets.  He was the chief architect behind the designs for responsible asset management through a gauntlet of economic challenges, including dozens of market corrections, the Great Recession of 2008 and most recently a recovery from the effects of a global pandemic.   

Hagee is a long-time member of the Investment Policy Committee, responsible for setting the successful allocation process Commerce Trust employs and managing its asset strategy teams.  He has been instrumental in building out the company’s enhanced client service model.

During his tenure, Hagee developed a deep understanding of the company’s proprietary investment philosophy, enabling Commerce Trust to highly customize portfolios to meet client needs. Hagee has been instrumental in establishing new investment offerings at Commerce Trust, including alternative investments. 

Hagee earned his Bachelor of Arts from Washington University in St. Louis in 1998.  Additionally, he is a member of the CFA Institute and the St. Louis Society of Financial Analysts as well as a board member and Treasurer of Aim High St Louis, and serves as the chairman of Investment Committee of the Center of Creative Arts (COCA) and a member of the investment committee of Forest Park Forever and the International Institute.

Among McConkey’s strengths is her ability to gain a thorough understanding of a client’s needs and goals as well as assessing the client’s entire financial situation.  Over the years she has worked with the investment research team to construct portfolios to help clients achieve their long-term goals.

McConkey represents CTC’s research and goals-based investment process, starting with the initial assessment and creation of an investment objective through ongoing evaluation and adjustments based on changing market and life circumstances.  She has nearly 30 years of experience and previously worked with Northern Trust Company in Chicago as a portfolio manager for high net worth clients.

McConkey received her Master of Business Administration degree and Bachelor of Science in Business Administration degree from Saint Louis University. She holds the Chartered Financial Analyst® designation and is a member of the CFA Institute and the CFA St. Louis Society, for which she previously served as director.

Commerce Trust Company, founded in 1906, is a specialized division of Commerce Bank, solely focused on wealth management, investments and planning services for families and institutional clients. With clients in all 50 states and 26 countries, Commerce Trust oversees $64.8 billion in assets under administration, $40.7 billion in assets under management (AUM) as of June 30, 2021, and is ranked 17th nationally based on AUM. 

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