PrimeVest Financial Services Inc., St. Cloud, Minn., has hired Randall Ciccati to be president and chief executive officer. He fills a slot that has been open since January, when Stephen Fischer resigned.
Mr. Ciccati, 38, who is to join the third-party marketer July 13, was previously an independent financial consultant.
PrimeVest, which has more than 650 financial institutions as clients, has recently benefited from an acquisition streak by one of them, German American Bancorp, Jasper, Ind.
The $600 million-asset banking company recently acquired FSB Bank, of Francisco, and Citizens State Bank, of Petersburg, both in Indiana.
Those banks were combined with another German American subsidiary and should be selling PrimeVest products by the fourth quarter, said George W. Astrike, German American's chairman and CEO.
In addition, Mr. Astrike said that Peoples National Bank, a German American-owned bank based in Washington, Ind., will offer investment products through PrimeVest by the end of December.
PrimeVest products would also be phased in next year at branches of 1st Bancorp., a $260 million banking company in Vincennes, Ind., which German American agreed to buy June 25.
- Cheryl Winokur