West Bancorporation, an Iowa-based community bank, has completed the sale of WB Capital Management to Miles Capital Holdings. The firm will operate under the name Miles Capital. The Miles Capital management team includes Amy Mitchell, director ofadministration, Tom Myers, director of equity and specialty finance and Laurie Mardis, director of fixed income.
Vera Lichtenberger continues as chief compliance officer. Since the purchase was announced in October, the company has added three chartered financial analysts, bringing with them nearly five decades of experience.
David Miles, president and CEO for Miles Capital Holdings, said: “We are delighted to complete this acquisition and look forward to serving the asset management needs of our current and future clients. To be able personally to return to this business is both gratifying and exciting for me.”
Jack Wahlig, chairman of West Bancorporation, said: “Our customers, our company and our state will benefit from having an independent asset management company headquartered in Iowa. With this transaction, the same time-proven group of asset managers will continue to manage investments for West Bank’s trust clients as well as West Bank’s own bond portfolio.”
