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Neenah, Wis., November 15, 2012 - Legacy Private Trust Company today announced that Paul L. Kasriel, retired Senior Vice President and Chief Economist at The Northern Trust Company, has joined Legacy as Senior Economic and Investment Advisor and consultant working across the company's wealth management initiatives. Kasriel is a highly regarded, innovative economic researcher whose work has helped form economic policy at national and global levels.
In his new role, Kasriel will focus on current and future economic research and be a valuable resource to Legacy's wealth management and investment service offerings. In addition, Kasriel will provide quarterly and annual economic updates, written commentary and Web casts for Legacy clients and prospects, financial and business leaders, and family office presentations.
"Paul is nationally recognized for his excellent work, and his background and expertise in data and economic research make him a tremendous addition and resource to our company," said Michael B. Mahlik, President of Legacy Private Trust Company. "Legacy is very focused on building on our investment strategies through innovative, evidence-based research, and we are thrilled to expand Legacy's depth of talent by welcoming Paul in this important role."
Nick Carver, Director of Investment Services at Legacy, added, "Paul's extensive experience and expertise will be an asset to Legacy's wealth management and investment service offerings and will provide our clients with unparalleled perspectives on the economy, financial markets and monetary trends."
"I'm excited to begin working with a top-quality investment firm like Legacy," said Kasriel. "My decision to join Legacy is based on the exceptional service and results they deliver, and the depth of wealth management resources and expertise they provide to their clients."
Considered one of the best economic forecasters as measured by long term accuracy, Kasriel is a highly respected economist and has developed a loyal following in the financial community through written commentaries containing his straightforward analysis of economic and financial market issues. He is a recipient of the annual Lawrence R. Klein Award for having the most accurate economic forecast over a four-year period among the Blue Chip survey participants. In January 2009, The Wall Street Journal and Forbes cited Mr. Kasriel as one of the few individuals who identified early on the formation of the housing bubble and foresaw the economic and financial market havoc that would ensue after the bubble inevitably burst.
After receiving his undergraduate degree in economics at the University of South Florida, Kasriel did his graduate work in economics at Indiana University. He began his career as a research economist at the Federal Reserve Bank of Chicago and has taught courses in finance at the Northwestern University Kellogg Graduate School of Management and at the DePaul University Kellstadt Graduate School of Business. Kasriel has also served on the Economic Advisory Committee of the American Bankers Association. He is the co-author of Seven Indicators That Move Markets, a book that identifies easy-to-use indicators that describe what market users are thinking today and where the markets could be headed tomorrow.
About Legacy Private Trust Company
Legacy Private Trust Company is an independent, closely held trust company and among the region's preferred wealth advisory firms with assets under management approaching 700 million dollars. Headquartered in Neenah, Wis., Legacy operates with a bank charter that was established in 2004 by the state of Wisconsin. With a team of 26 highly credentialed and experienced professionals, and a proven record of exceptional wealth management services for its clients, the company offers personalized trust and investment services to individuals, families, businesses and non-profit organizations. ###
Legacy is expanding its corporate headquarters office space at Two Neenah Center in downtown Neenah. The additional space on the sixth floor will enable us to significantly expand trust services, asset management and estate-planning offerings to existing and future clients.
"This is our fifth year in the building," said Legacy President Michael B. Mahlik. "It offers great proximity to downtown, attractive office and client meeting facilities, convenient parking, and the building maintenance is outstanding. Expanding into additional space is representative of our growth as a company and characterizes our strategies for continuing to grow our business during challenging economic conditions."
Legacy currently occupies the fifth floor of the office building that the firm has leased since 2007. The additional space will house added staff and business operations. The reception area and client meeting rooms will continue to be located on the fifth floor.
Legacy's dedicated team of experienced professionals is drawn from all relevant wealth management disciplines, including investments, tax, trusts, financial and retirement planning, estate planning and wealth transfer. The additional office space will allow Legacy to continue to bring the full capabilities of its expertise when addressing the individual circumstances and wealth management needs of clients. ###
Legacy has launched strategic partnerships with two regional Wisconsin banks that are designed to enhance the trust and investment capabilities and services of the banks. The partnerships are with Bank First National, based in Manitowoc, Wisconsin, and Port Washington State Bank, located in Port Washington, Wisconsin.
Under the agreements, Legacy will provide trust and wealth management services to the banks, enabling them to significantly expand their trust, asset management and estate-planning offerings to existing and future fiduciary clients.
"Legacy is very pleased to partner with Port Washington State Bank and Bank First in offering comprehensive wealth management services to their customers," said Michael B. Mahlik, President of Legacy Private Trust Company. "Both banks have a longstanding reputation for integrity and uniquely personal service, which has earned each of them an extremely loyal customer base. We share core values and business philosophies, and look forward to excellent and long-lasting relationships."
Legacy is the firm of choice because of its proven record of exceptional wealth management services and its experienced, knowledgeable staff. Legacy is now among the most preferred trust, investment management and wealth advisory firms in north central Wisconsin.
"We believe this partnership is in the best interest of our existing and future fiduciary customers," said Mike Molepske, President and CEO at Bank First. "By partnering with Legacy, our clients will have greater access to comprehensive solutions for their unique situation."
"As our bank has grown to be one of the larger independent banks in the state, so has our desire to continue to provide the highest level of trust and investment management solutions to our clientele," said Steve Schowalter, President and CEO of Port Washington State Bank. "Legacy brings us a depth of wealth management resources and expertise that we believe will be of tremendous benefit to our clients."
Legacy has assumed responsibility for managing all trust and investment accounts at both banks from this point forward. ###
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D: 920-967-5020 T: 866-811-1500 F: 920-967-5079 Two Neenah Center | Fifth Floor | Neenah, WI 54956 legal
