Banking & Finance

There’s been a lot of talk about reforming the Federal Tax Code in the Fiscal Cliff and Sequester debates and now it appears that Wisconsin may be getting in on the act. Gov. Walker’s budget included a very modest reduction in the Wisconsin income tax rates and it appears that the legislature wants to go further.

Glendale-based Johnson Controls Inc. is considering a divestiture of its automotive electronics business.

Racine-based Johnson Financial Group announced the appointment of Todd Shaffer as chief risk officer for the company.

BMO Private Bank announced it has hired Peter Koleske as vice president and private banker in Milwaukee.

John Blau has been appointed to the newly created position of vice president and chief credit officer at Pewaukee-based Foundations Bank.

Standard & Poors has upgraded its rating of MGIC Investment Corp. to B-, up from CCC+, as a result of the company’s capital raise last week.

Brookfield-based Advantage Federal Resourcing has been acquired by Florida workforce solutions company STS Technical Services.

Brookfield-based Advantage Federal Resourcing has been acquired by Florida workforce solutions company STS Technical Services.

ABC Supply Holding Corp., the parent company of Beloit-based American Builders & Contractors Supply Co. Inc., has entered into a definitive agreement to redeem all of the shares held by its minority shareholders, an investor group led by Advent International.

In its 2012 financial statement, released today, Sheboygan-based property and casualty insurance firm Acuity reported that its assets under management reached an all-time high of $2.75 billion and policyholders’ surplus finished the year at a record $1.125 billion.