Associated Banc-Corp Launches Franchise Banking Vertical, Hires Five Specialists
Associated Banc-Corp has launched a national Franchise Banking vertical, naming Shaun Coard as senior vice president and adding four specialist hires to lead its industry-specific solutions for franchise operators. This move enhances its portfolio of specialty verticals and supports the bank’s organic growth strategy by targeting franchise clients beyond its Midwest footprint.
1. New Franchise Banking Vertical
Associated Banc-Corp introduced a national Franchise Banking vertical to deliver tailored financial solutions for franchise owners and operators across the U.S. The vertical joins its existing specialty offerings, such as power and utilities, mortgage warehousing, and equipment finance.
2. Leadership and Team Hires
Shaun Coard has been named senior vice president and business segment leader for Franchise Banking, reporting to EVP John Utz. The bank also brought on four specialists: Phil Davis as portfolio manager, Jasmine Synstelien as relationship manager, Kriston Jordan as loan administrator, and Todd Matthies as cash automation solutions manager.
3. Strategic Rationale
This launch supports Associated’s organic growth initiative by deepening industry-specific services and expanding beyond its Midwest footprint. The franchise vertical is expected to attract new clients, enhance cross-selling opportunities, and strengthen the bank’s competitive position in specialty finance.