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KS Investment Firm Eyes Second HQ in Milwaukee Area
Kansas investment firm Midwest Institutional Trust Co., part of the Midwest Family of Companies (MITC), could be poised to open a “second headquarters” office in Wauwatosa, Wisconsin, with the help of city loans as it steps in to take over an operation that BMO Harris Bank is shedding.
Earlier this year, MITC established a definitive arrangement with BMO Harris Bank to serve as the successor provider to BMO Institutional Trust Services clients. In turn, Wauwatosa officials are considering $200,000 in financing for Midwest Institutional to establish a new office at 10700 W. Research Park Drive.
The office would open with the nearly 40 employees that BMO Harris had planned to lay off, reported the Kansas City Business Journal. Instead, Midwest Institutional will hire those employees and move them to the Wauwatosa building. MITC is taking on more than $70 billion in assets through the agreement with BMO Harris, bringing its total assets to just under $500 billion.
