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Wintrust Bank launches new money service division

Wintrust Bank launches new money service division

Wintrust Bank launches new money service division

Wintrust operates Dyer Bank & Trust in Dyer.

Wintrust Bank, which has branches in Dyer, Lansing and across the south suburbs, is launching the new Wintrust Money Service Exchange Group.

The Rosemont-based bank's new division will provide capital markets, lending and treasury management support to firms operating in the money service business industry in the United States, which must continually navigate changing regulations and advancing technology.

Senior Vice President Carol Ann Killian, a veteran banker who has an extensive background serving the money service business, was hired to lead Wintrust's new business line. 

“We’re always focused on expanding our offerings to better serve clients in all industries,” Wintrust CEO and founder Edward Wehmer said. “Forming this new group, under Carol Ann’s leadership, allows us to provide specialized support to businesses in the money service exchange market, and I’m confident the group will be a great addition to our services.”

Killian has worked at Capital One Bank, North Fork Bank, Citibank, European American Bank, and most recently MB Financial Bank, where she was a relationship manager for the Currency Exchange Division. She's tasked with developing relationships with money service exchange firms to grow the new business line.

“I am so excited to begin a new venture at Wintrust, supporting the market I have served in as a banker for 26 years,” Killian said. “I hope to propel Wintrust into becoming a leading provider of financial services in this space. I think it’s a win for both the money service exchange industry as well as for Wintrust.”

The Wintrust Money Service Exchange Group will offer services such as currency ordering, processing, electronic banking, fraud prevention and remote deposit capture.

Wintrust has more than $43 billion in assets and more than 180 branches, mostly in the greater Chicago area and southern Wisconsin.

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Joseph S. Pete is a Lisagor Award-winning business reporter who covers steel, industry, unions, the ports, retail, banking and more. The Indiana University grad has been with The Times since 2013 and blogs about craft beer, culture and the military.

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