Associated Bank Announces Trier and Warsek to Join Executive Leadership Team

Rhea-AI Summary

Associated Banc-Corp (NYSE: ASB) announced two key appointments to its Executive Leadership Team effective November 1, 2024. Phillip Trier, 46, will become executive vice president, head of Corporate and Commercial Banking, while Gregory Warsek, 60, will serve as executive vice president, deputy head of Commercial Real Estate and Facilities. The appointments come as part of a leadership restructuring, with Paul Schmidt stepping down from the ELT in March 2025 but remaining as Twin Cities market president until his planned retirement at the end of 2025. Additionally, John Utz will transition to head of Specialized Industries and Capital Markets while maintaining his role as Milwaukee market president.

Positive

• Strategic leadership restructuring to strengthen commercial banking and real estate divisions
• Experienced internal promotions maintaining organizational continuity
• Planned succession strategy for Commercial Real Estate leadership

Negative

• None.

MILWAUKEE, Oct. 30, 2024 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) ("Associated") announced today the appointment of Phillip Trier and Gregory Warsek to its Executive Leadership Team (ELT), effective November 1, 2024.

Phillip Trier, 46, will be executive vice president, head of Corporate and Commercial Banking, reporting directly to President and CEO Andy Harmening. Trier joined the company in December 2023 to accelerate core Commercial Middle Market business development across the company's major metropolitan markets and lead its equipment finance and leasing vertical, and commercial deposit and treasury management sales and service strategies. In his elevated role, Trier will lead all aspects of Associated's Commercial banking, creating a unified structure to ensure alignment across this business line and will continue to be based in the Twin Cities.

"In the time he's been with Associated, Phil has shown strong leadership and vision while delivering results that grow our business and advance our strategic plan," said Andrew J. Harmening, president and CEO of Associated Bank. "Gaining market share in our commercial business is a key pillar of Associated Bank's strategy, and with Phil's expertise and leadership, I am confident we will continue to expand this segment as we move into the next phase of our plan."

Gregory Warsek, 60, will be executive vice president, deputy head of Commercial Real Estate (CRE) and Facilities. Warsek began his career with US Bank and joined Associated Bank in 2002 to establish its Chicago Commercial Real Estate business, as well as the St. Louis Commercial Real Estate Loan Production Office in 2004. Additionally, Warsek created the Institutional and Real Estate Investment Trust (REIT) groups in 2014 to strategically build out the bank's commercial real estate capabilities in the fund, corporate real estate and public REIT markets and has successfully led Associated's CRE offices and loan production as group leader since 2022.

Warsek will continue reporting to Paul Schmidt, head of Commercial Real Estate and Facilities, until March 2025. At that time, Schmidt will step down from the ELT as head of CRE and Facilities but remain as Twin Cities market president and advisor to CRE and Facilities until the end of 2025, when he plans to retire.

"Under Greg's leadership, the CRE and Facilities team will undoubtedly continue the momentum and success achieved under Paul's direction," said Harmening. "Greg's deep knowledge of commercial real estate and his commitment to supporting the local communities we serve has earned the respect of banking industry leaders within our verticals."

John Utz, currently head of Corporate and Commercial Banking, will become head of Specialized Industries and Capital Markets and remain Milwaukee market president. Utz has been with Associated since 2010. As executive vice president, he will oversee the Specialized Industries of Power and Utilities, Data Centers, Asset Based Lending, Government Banking, Mortgage Warehouse, Financial Institutions, and Insurance. Utz also oversees the bank's capital markets division which is comprised of interest rate derivatives, commodity derivatives, and foreign exchange. Further, he is responsible for the Bank's Associated Equity Investments department as well as risk and credit management for the wholesale bank.

Trier earned his Bachelor of Arts in Economics from St. John's University and is a graduate of the Pacific Coast Banking School. Active in the community, Trier's board service has included Gillette Children's Hospital, Minneapolis Downtown Council, Minneapolis Regional Chamber of Commerce, Junior Achievement, and the Young Presidents Organization. Trier is located in the Twin Cities market.

Warsek earned his Master of Business Administration from Marquette University and a Bachelor of Business Administration from University of Wisconsin-Whitewater. Warsek serves on the Executive Advisory Board of the Driehaus School of Business-Real Estate Center at DePaul University and an Advisory Board Member for The Vieth Institute for Real Estate at Marquette University. He's active in the community, serving on the Steering Committee for the Greater Chicago Food Depository's annual fundraiser and also a board member of the Foundation for Human Development in Chicago.  Warsek is active in professional organizations serving as past board member of the Chicago chapter of NAIOP, past board member of the Marshall Bennett Institute of Real Estate at Roosevelt University, and is a current member of Urban Land Institute, NAIOP, and NAREIT.  Warsek is based in the Chicago market.

ABOUT ASSOCIATED BANC-CORP

Associated Banc-Corp (NYSE: ASB) has total assets of $42 billion and is the largest bank holding company based in Wisconsin. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from nearly 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota. The company also operates loan production offices in Indiana, Michigan, Missouri, New York, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.

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SOURCE Associated Banc-Corp

FAQ

Who are the new executives joining Associated Bank's (ASB) leadership team?

Phillip Trier will become EVP, head of Corporate and Commercial Banking, and Gregory Warsek will become EVP, deputy head of Commercial Real Estate and Facilities, effective November 1, 2024.

When will Paul Schmidt step down from Associated Bank's (ASB) Executive Leadership Team?

Paul Schmidt will step down from the Executive Leadership Team as head of CRE and Facilities in March 2025, but will remain as Twin Cities market president until his retirement at the end of 2025.

What is John Utz's new role at Associated Bank (ASB)?

John Utz will become head of Specialized Industries and Capital Markets while maintaining his position as Milwaukee market president.