Macareno to lead Merchants and Manufacturers’ downtown team
Amelia Macareno, who late last year left US Bank after 20 years of service to join Merchants and Manufacturers BanCorp (MMBC), is heading the banking organization’s new Merchant’s Private Banking Center in downtown Milwaukee’s 1000 North Water Street building.
In her previous position, Macareno managed US Bank’s relationships with other financial institutions – and had MMBC as a client.
MMBC already operates an office in the 1000 North Water building, but commercial space is being built out on the ground floor at the corner of Water and State streets in space formerly occupied my the Metropolitan Milwaukee Credit Union. The credit union has moved to an adjacent space.
According to Macareno, the service mix offered at the new location will be similar to those offered by other banking entities opening business-oriented locations downtown, including Cedarburg-based Ozaukee Bank, which is opening a location aimed at business owners and corporate clients at 225 E. Mason St.
Like Ozaukee Bank, Macareno said, the MMBC location will lack the trappings of a consumer bank location, including teller stations. However, customers with consumer accounts at Lincoln State Bank, Franklin State Bank, Lincoln Savings Bank, Grafton State Bank and Fortress Group can bank at the new location.
"Our private banking people will be at desks, which is a more pleasant way to do things" Macareno said. "But a bank customer can come in and cash a check. This office will provide full service to our customers here. You can make deposits here, and if you happen to have a meeting downtown, you can come in. We have reserved parking downstairs."
While build-out of the space will not be completed for about four weeks, Macareno said the bank is already offering service from its loan processing office in the building.
"We are currently doing business on the 9th floor," Macareno said. "When we have deposits, we actually right now have to run them down to our other offices. But we do a lot of loan closings here."
As Macareno hires her team of nine to staff the office, the business owners and executives will be able to access commercial lending, accounting, financial planning and other services.
"We will have a location of our subsidiary, Link Financial Services, at this office," Macareno said. "They offer stocks, mutual funds, 401k’s for individuals and companies."
Macareno brings to the position more than banking experience. She holds an undergraduate degree in business administration from the University of Wisconsin in Madison and a graduate school banking degree. She is president of the Hispanic Professionals of Greater Milwaukee and the Wisconsin Chapter of the Financial Managers Society. She also serves on the steering committee of Milwaukee Women Inc., a group concerned about the status of women in corporate leadership.
March 21, 2003 Small Business Times, Milwaukee
