Kundert named state's to banking regulator

Northwestern Financial Review, Feb 19, 2000

Former Wisconsin Bankers Association President John F. "Jack" Kundert was appointed on Feb. 3 as acting secretary of the Department of Financial Institutions. The 68-year-old Kundert, former president of Bank One in Monroe, Wis., succeeded Richard Dean who resigned in November, but remained in office until Feb. 1.

Gov. Tommy Thompson appointed Kundert to replace Dean, who had held the post for 11 years. Kundert was not available for comment. A banker for more than 40 years, Kundert served as WBA president from 1981-82 while he led Commercial & Savings Bank of Monroe, which later became Bank One Monroe.

"Jack's leadership and more than 40 years of experience in the banking industry will strengthen DFI and financial institutions across the state, while providing the people of Wisconsin the very best in consumer protection and financial education," said Gov. Thompson in a news release.

As DFI secretary, Kundert will earn an annual salary of $84,500.

The governor also announced the appointment of Terry Grosenheider to DFI deputy secretary. The position had been empty since the July resignation of James Huff, who served as deputy secretary for six years. Grosenheider, 43, is the executive assistant at the Department of Commerce and, in his new position, will earn an annual salary of $78,308.