Marshall & Ilsley Corp. has announced that James B. Wigdale plans to retire as chairman of the board Dec. 31 but remain a director. M&I's president and CEO, Dennis J. Kuester, is to succeed Mr. Wigdale.
Mr. Wigdale became president of M&I Marshall & Ilsley Bank in 1981, chief executive in 1987, chairman of the board in 1989, and chairman of the board and CEO of Marshall & Ilsley Corp. in 1992. Mr. Kuester took the role of chief executive in 2002, the company said on Thursday.
As chairman and chief executive officer, Mr. Wigdale oversaw the purchases of Wisconsin-based Valley Bancorp., Security Capital Corp., and Advantage Bancorp and of Minneapolis-based National City Bancorp.
Marshall & Ilsley Corp. is a diversified financial services corporation headquartered in Milwaukee; it has $39 billion of assets.
