Economic Development

The PNC Financial Services Group Inc., the Pittsburgh-based parent company of PNC Bank, reported second quarter net income of $1.1 billion, or $1.99 per share, up from $546 million, or 98 cents per share, in the same period a year ago.

Waukesha State Bank has renamed its Wealth Management Services division to Prairie Financial Group and named Kristin Reilly president of the division.

Brookfield-based Pinstripe, Inc. has acquired recruitment outsourcing and talent management company Ochre House, headquartered in London in the United Kingdom.

Brown Deer-based Bank Mutual Corp. reported second quarter net income of $2.6 million, or 6 cents per share, up from $1.3 million, or 3 cents per share, in the same quarter a year ago.

Associated Banc-Corp reported second quarter net income of $47 million, or 28 cents per share, up from $42 million, or 24 cents per share, for the same quarter a year ago.

Don Stockhausen has joined HighTower Palm Desert, a financial advisory firm in Palm Desert, Calif. He will travel back and forth and continue to serve his clients in Milwaukee.

BrightStar Wisconsin Foundation, a new philanthropic early stage capital fund, has received $300,000 in operating capital from the Wisconsin Economic Development Corporation.

Phase One of the entrepreneurship project Scale Up Milwaukee is now underway. The multi-year project is a new initiative commissioned by American Express OPEN, a division of the company that focuses on entrepreneurs, and it has begun its efforts to create an "entrepreneurship ecosystem" in Milwaukee.

“The causes of our growing income disparity are many and their relative weight uncertain. But the consequences are clear....

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