Associated Bank parent company completes purchase of wealth management firm

Freeman Staff

Oct. 3, 2017

GREEN BAY — Associated Banc-Corp, the parent company of Associated Bank, announced it completed the previously announced acquisition of Whitnell & Co., a wealth management and multi-family office services firm based in Oak Brook, Illinois.

Whitnell will be part of Associated’s Private Client & Institutional Services group. According to the announcement, the acquisition is intended to enhance Associated’s ability to provide comprehensive financial services related to tax, charitable and estate planning.

“The acquisition of Whitnell aligns with our continued focus on improving the customer experience and strategy to drive shareholder value through a diverse set of specialty businesses,” said Philip B. Flynn, president and CEO of Associated, in a statement. “With the addition of Whitnell, we can offer a unique set of additional planning, asset management and related services to high net worth clients across our markets.”

Whitnell’s more than 25 employees will continue to work for Associated Banc-Corp. Whitnell has approximately $1 billion assets under management.