First Mercantile Trust, a Subsidiary of EdgeCo Holdings, Announces Agreement for Strategic Acquisition of American Trust Retirement
Summary
“We set out on a path to make strategic acquisitions in the retirement space in order to provide a differentiated offering for financial intermediaries and their clients,” said John Moody, Chief Executive Officer of EdgeCo. “We believe that the advisors and their respective clients, as well as our employees, will win in a big way as a result of this acquisition,” said Kurt Wedewer, who will be joining the firm as a Regional President of EdgeCo’s retirement services business. “With the acquisition of ATR, we will become a leader in offering something fundamentally different in the small to mid-market that will help intermediaries and recordkeepers alike win and retain retirement plan business in a meaningful way.” ATR’s Dubuque, IA operations, including the existing staff, will be retained and are anticipated to grow as the combined company expands its national reach and service offering. ATR, a division of American Trust & Savings Bank, is located in the beautiful and historic bluffs of downtown Dubuque, Iowa.