Metavante profit up 41 percent; Bucyrus CEO, Baird executive named to Northwestern Mutual board; Accounting firm moving to another building in Menomonee Falls
Metavante profit up 41 percent
Brown Deer-based Metavante Technologies Inc. reported second quarter net income of $51.9 million, or 43 cents per share, up 41 percent compared to net income of $36.9 million, or 31 cents per share, in the second quarter of 2008.
For the quarter, the company’s revenue was $440.3 million, up 4 percent compared to $424.8 million in the second quarter of 2008.
“The results for the second quarter again demonstrated the strength of our business model and our ability to execute in what continues to be a very challenging environment for both us and our clients," said Frank Martire, chairman and CEO of Metavante. "This quarter’s performance also reflects our proactive efforts to manage our cost structure and deliver strong profitability.”
Metavante, which provides banking and payments technologies, announced in April that it would be acquired by Fidelity Information Services Inc., of Jacksonville, Fla.
Bucyrus CEO, Baird executive named to Northwestern Mutual board
Timothy Sullivan, the chief executive officer of South Milwaukee-based Bucyrus International Inc., and Mary Ellen Stanek, the managing director and director of asset management for Milwaukee-based Robert W. Baird & Co., have been named to the board of trustees for Milwaukee-based Northwestern Mutual Life Insurance Co.
"Northwestern Mutual is fortunate to bring these two prominent Milwaukee businesspeople onto its board of trustees," said Northwestern Mutual chairman and CEO Edward J. Zore. "These professionals bring a proven track record with their success in business and financial management."
Stanek is responsible for the development and portfolio management of all proprietary asset management services in her position at Baird. Additionally, she serves as the president of the Baird Funds. She previously served as president and CEO of Firstar Investment Research & Management Company.
Sullivan has served as president and CEO of Bucyrus since 2004, after holding various management positions with the company since joining in 1976. He also served as president and chief executive officer of United Container Machinery, Inc. in Glen Arm, Md. from January through December 1999, rejoining Bucyrus in January 2000.
Accounting firm moving to another building in Menomonee Falls
Strosahl & Co. CPAs and Strosahl Wealth Management recentlhy purchased a 17,500-square-foot office building at W136 N5285 Campbell Dr., Menomonee Falls, in the Falls Business Park. The company, and its 11 employees, moved late last week from its former location at N91 W17194 Appleton Ave., Menomonee Falls.
The Campbell Drive building is also home to Triumph Accessory Services. About 4,500 square feet of space will remain vacant for future expansion.
“The acquisition of this facility will make it possible for us to serve our growing client list more efficiently,” said the company’s owner, Phil Strosahl. “The additional space allows for more and larger conference rooms and a professional and exciting workspace for our employees and clients.”
Strosahl & Co. CPAs is a full-service accounting firm.