Banking & Finance

Ernst & Young LLP has named assurance partner David Gay as managing partner of its Milwaukee office, July 1.

Robert Cera, president and chief executive officer of Baylake Bank in Sturgeon Bay, has been elected to serve as the 2014-2015 chair of the Wisconsin Bankers Association.

Grede Holdings LLC, which has four Wisconsin foundries and was founded in Wauwatosa, has been sold to New York private equity firm American Securities LLC.

Brookfield-based Systems & Programming Solutions Inc. and its subsidiary, Best Way Technologies, have sold their assets to French mail solutions, communication and logistics provider Neopost. The name SPSI has been changed to ProShip Inc. in the transaction.

Oconomowoc-based First Bank Financial Centre recently received the SBA Lender of the Year Award at the Wisconsin Lenders Conference.

Kenosha-based tool manufacturer Snap-on Inc. has acquired substantially all of the assets of Pro-Cut International Inc. for about $42 million in cash.

Brookfield-based tax and accounting firm Kosler & Co., S.C., Certified Public Accountants and Business Consultants has been acquired by Madison-based SVA Certified Public Accountants S.C.

Menomonee Falls-based Actuant Corp. has acquired Sugar Land, Texas-based Hayes Industries Ltd. for about $31 million.

Baker Tilly Investment Advisors LP has changed its name to Bronfman E.L. Rothschild L.P.

Menomonee Falls-based Actuant Corp. has acquired Sugar Land, Texas-based Hayes Industries Ltd. for about $31 million.