Metavante Technologies Inc. said last week that its board had elected Frank R. Martire its chairman.

Mr. Martire, 61, has been the Milwaukee payment technology company's chief executive and president since 2003.

As the chairman, he succeeded Dennis Kuester, the chairman and CEO of Marshall & Ilsley Corp., the Milwaukee banking company that spun off Metavante in November of last year. The succession had been planned to coincide with the anniversary of that deal.

Mr. Martire will remain the CEO. Metavante said its chief operating officer, Michael Hayford, would take the additional post of president.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.