Banking & Finance

Bank directors have become more optimistic about economic improvement, with 43 percent expecting recovery progress by the end of the year, up from 13 percent in 2012, according to a survey by Bank Director and Grant Thornton LLP.

Melissa Case has been named chief financial officer of Elm Grove-based Annex Wealth Management.

Glendale-based Johnson Controls Inc. has named William Jackson as executive vice president of the company's newly created Corporate Development function.
Jackson will report to vice chairman Alex Molinaroli.

Roadrunner Transportation Systems Inc. has acquired all of the outstanding equity of G.W. Palmer Logistics, LLC, a non-asset truckload service provider based in Batesville, Ark.

Milwaukee-based Brady Corp. reported a fiscal fourth quarter net loss of $177.3 million, or $3.41 per share, compared with a net profit of $11.7 million, or 40 cents per share, in the same period a year ago.

High-yield bonds are commonly referred to as “junk bonds,” but when it comes to the benefits this asset class provides, investors should not be too quick to discard them when building portfolios.

The Legislature will reduce state taxpayer support for the University of Wisconsin System by $65.7 million over the next two years. The UW campuses will collectively absorb the state funding cut over the next two years, generally by drawing down their cash reserves

Wisconsin banks reported combined net income of $497 million in the second quarter, up from $407 million in the same period a year ago, according to the Quarterly Banking Profile released by the Federal Deposit Insurance Corp.

Robert W. Baird & Co. Inc. downgraded Milwaukee-based Brady Corp.’s stock from “outperform” to “neutral” with a price target of $33.00, down from $41.00, after a disappointing quarterly report Thursday.

Sheboygan-based Acuity announced it is open for business in Wyoming and Montana and has begun appointing agents in those states.