Associated Bank Launches New Deposit Vertical

Rhea-AI Summary

Associated Banc-Corp (NYSE: ASB) has announced the launch of a new Specialty Deposits and Payment Solutions national vertical, appointing Rick Bruhn as senior vice president and head of this division. Bruhn, with over 20 years of financial services experience, will be responsible for:

• Building the new business vertical
• Driving the specialty deposits and payment solutions strategy
• Aligning with the bank's growth goals
• Driving new client acquisition
• Helping fund overall enterprise growth

This appointment is part of Associated's Phase 2 strategy to expand corporate and commercial banking capabilities and boost deposit and treasury management revenue. Bruhn's expertise is expected to accelerate this strategic initiative.

Positive

• Launch of new Specialty Deposits and Payment Solutions vertical
• Appointment of experienced industry expert Rick Bruhn as SVP
• Potential for new client acquisition and enterprise growth
• Alignment with bank's strategic growth goals
• Expansion of corporate and commercial banking capabilities

Negative

• None.

Rick Bruhn joins bank as senior vice president and head of Specialty Deposits and Payment Solutions

MILWAUKEE, Oct. 22, 2024 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) (Associated) Rick Bruhn has joined Associated Bank as senior vice president and head of the Specialty Deposit and Payment Solutions national vertical. Bruhn is responsible for collaborating with internal and external partners to build this new business vertical within the bank. In addition, he is responsible for driving the specialty deposits and payment solutions strategy and team that aligns with the bank's growth goals by driving new client acquisition and helping fund the growth of the overall enterprise.

A leading industry expert, Bruhn brings more than 20 years of financial services experience and was most recently at U.S. Bank where he spent the past 18 years leading several deposit focused strategies including title and escrow, 1031 exchange, HOA property management and fintech. His leadership and expertise will help Associated accelerate Phase 2 of our strategy of building out corporate and commercial banking capabilities and driving deposit and treasury management revenue.

"We are excited to have Rick join the Associated Bank team as his collaborative style and extensive experience fits perfectly with our culture," said John Utz, executive vice president, head of corporate banking. "His career progression is a testament to his exceptional leadership, strategic thinking, and ability to deliver results. We look forward to his expertise as he drives new products and solutions and expands our client base."

Bruhn holds a bachelor's degree in economics, finance and accounting from Wright State University and is based in Cincinnati, Ohio.

ABOUT ASSOCIATED BANC-CORP

Associated Banc-Corp (NYSE: ASB) has total assets of $41 billion and is the largest bank holding company based in Wisconsin. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from nearly 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota. The company also operates loan production offices in Indiana, Michigan, Missouri, New York, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.

Media Contact: Andrea.Kozek@associatedbank.com

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SOURCE Associated Banc-Corp

FAQ

What new business vertical has Associated Bank (ASB) launched?

Associated Bank (ASB) has launched a new Specialty Deposits and Payment Solutions national vertical.

Who has been appointed to lead Associated Bank's (ASB) new Specialty Deposits vertical?

Rick Bruhn has been appointed as senior vice president and head of the Specialty Deposits and Payment Solutions national vertical at Associated Bank (ASB).

What is the strategic goal behind Associated Bank's (ASB) new Specialty Deposits vertical?

The new vertical aligns with Associated Bank's (ASB) Phase 2 strategy to expand corporate and commercial banking capabilities and drive deposit and treasury management revenue growth.

What is Rick Bruhn's professional background before joining Associated Bank (ASB)?

Rick Bruhn has over 20 years of financial services experience and was previously at U.S. Bank for 18 years, leading several deposit-focused strategies.