|By Marketwired .||
|July 24, 2014 12:19 PM EDT||
ALLENTOWN, PA -- (Marketwired) -- 07/24/14 -- Ambassador Financial Group, Inc., a FINRA licensed broker-dealer and financial services provider to financial institutions nationwide, is pleased to announce that Karl J. Ostby has joined the firm as Managing Director, Investment Banking, based in the firm's Chicago office.
Ostby has more than 30 years' experience in the financial services sector as a bank executive with community and national banks, and as a senior advisor to financial institutions and institutional bank investors. As a bank President and CEO, he raised capital, organized and built a de novo Wisconsin-based institution to $500 million in assets. Since retiring from that position in 2009, he has served as a consultant and advisor to banks on a variety of operational, strategic, regulatory, and capital raising assignments, and as a consultant to bank advisory and investment firms, and to regulatory agencies. Ostby has extensive experience conducting bank management team studies and preparing strategic plans, along with vast regulatory knowledge.
Matthew Resch, Managing Principal and Co-Founder of Ambassador, commented: "Karl's diverse experience, his deep knowledge of all facets of banking, and his ability to work as a peer with senior bank executives, will provide tremendous benefit to our organization and the community banks Ambassador serves. Community banks are wrangling with a variety of challenges and opportunities. We believe Karl's perspective as a former bank CEO and his experience managing a variety of senior-level consulting assignments over the years, will immediately boost our operations."
Prior to forming a de novo bank, Ostby spent 13 years with Wells Fargo (formerly Norwest) as a senior manager, including as President of Corporate Banking for Wisconsin, which included assimilating the acquisition of First Interstate of Wisconsin and achieving a 50% penetration of the top 100 Wisconsin companies. He managed Norwest's U.S. Cash Management Division, achieving the second largest ACH volume of all U.S. banks.
Most recently, Ostby served as Senior Adviser to Fortress Partners, a longstanding bank investment fund based in Wisconsin. Ostby has also served on numerous boards, including the Wisconsin Bankers Association, and as President of the Milwaukee Bank Executive Forum, Chair of the South East Wisconsin Regional Transit Authority, and in various advisory board positions for the University of Wisconsin. He was recognized in 2007 by the Community Bankers of Wisconsin as Banker of the Year, and was a Midwest finalist for the Ernst and Young Entrepreneur of the Year, and Business Person of the Year by Wisconsin Builder. He holds a BA in Economics from St. Olaf College and a MBA in Finance from The University of St. Thomas.
Ambassador Financial Group, a FINRA registered broker-dealer, headquartered in Allentown, Pennsylvania, provides balance sheet management, investment banking, and investor relations services to community banks and thrifts nationwide.
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