To deepen its relationships with commercial clients, Associated Bank is now working to expand several ancillary services, including international services, treasury management, capital markets and correspondent banking, according to Peter Thursby, executive vice president of the bank’s corporate banking capital markets group. Thursby was hired in late 2007 to help the bank increase its ancillary services.
"We’ve spent a good portion of the first and second quarter now targeting, establishing and setting strategies in a meaningful way," he said. The Green Bay-based bank’s international services division, which is now being led by Donald Lloyd, is starting to offer exchange services for commercial clients that do business overseas, Thursby said. Associated Bank has offered international services for many years, but those services traditionally focused on trade services such as letters of credit and international wire transfers. "We’re very focused on maintaining our solid core of trade service capabilities and growing our foreign exchange (services) with Don," Thursby said.
Associated Bank eventually will expand its international services into trade finance, Thursby said, but its plans are still being developed. Earlier this year, the bank created a loan syndication group, a new operating unit of its capital markets department. Associated now has three employees in that department, one of whom specializes in commercial real estate loans. "My background was in loan syndication – I ran that division for LaSalle Bank," Thursby said. "That’s when Associated makes a loan, and it will sell pieces of the loan to other banks."
Late last year, Associated Bank consolidated much of its treasury management department into two central locations, Milwaukee and Green Bay. Previously, the bank had regional treasury management workers, Thursby said. The bank’s correspondent banking, which provides back-room operations such as processing and depository services for smaller community banks and credit unions, is also experiencing significant increases.
The expanded services, new employees and increased attention will help cement Associated Bank’s market penetration in geographic regions it has expanded into in recent years, Thursby said. "The bank is really focused on growing all of its ancillary services," he said. "We’re ensuring that they all have the capabilities to meet all needs of the relationship and be more advisory to (clients). We want you to let us come up with the right solutions for you. We’re providing advisory services and deepening our relationships."
