A thrift president who joined Firstar Corp. three-and-a-half years ago is being squeezed out as the Milwaukee-based company reorganizes.

Robert Pieters started his banking career in 1975 as the chief financial officer of $75 million-asset Freedom Savings and Loan of Menomonee Falls, Wis. After being promoted to president in 1980, Mr. Pieters oversaw two mergers that boosted the thrift's assets to $450 million.

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