In a significant move for the financial landscape of the Midwest, Associated Banc-Corp, the largest bank holding company headquartered in Wisconsin with assets totaling $44 billion, has revealed a key leadership change in its Madison market. This transition signals not only a shift in personnel but also a continued commitment to growth and community engagement in a region that serves as a vital hub for the bank’s operations. With 370 colleagues across 32 locations spanning Wisconsin, Illinois, Minnesota, and Missouri, the Madison market stands as a cornerstone of the company’s presence in the area. The announcement of a new market president comes at a time when strategic leadership is paramount to navigating the evolving demands of the banking industry, ensuring that customer needs and community ties remain at the forefront of business priorities. This development sparks curiosity about how the incoming leader will build on an already strong foundation to drive further success.
Leadership Transition and Continuity
The announcement marks a pivotal moment as Jay Sodey, currently the regional executive for Consumer & Business Banking, steps into the role of Madison market president, effective January 1, 2026. This transition follows the retirement of Dave Stein, who has led the market for nearly 21 years and will step down at the end of this year. Sodey’s appointment is viewed as a seamless progression, given his 22 years of banking experience, much of which has been dedicated to Associated Bank since joining in 2005 to oversee retail banking in the Greater Madison area. Reporting to John Halechko, Director of Branch Banking, Sodey is poised to prioritize sales growth, marketing enhancements, and community-focused initiatives. His long tenure within the organization ensures a deep understanding of the market’s dynamics, offering stability during this period of change. The emphasis on internal promotion reflects a deliberate strategy to maintain operational consistency while preparing for future challenges in a competitive sector.
Dave Stein’s departure signifies the end of an era defined by strategic vision and dedication to the Madison market’s development. Throughout his leadership, Stein has been instrumental in shaping the region’s trajectory, fostering a culture of excellence that has resonated with both colleagues and customers. His confidence in Sodey’s ability to assume this role highlights a shared belief in the importance of strong, experienced leadership to sustain growth. Stein’s endorsement is not merely a formality but a testament to Sodey’s proven track record in driving key initiatives within the branch network. This transition avoids disruption by leveraging Sodey’s familiarity with the market’s unique needs and opportunities. As Stein prepares to retire, his legacy of balancing business objectives with customer satisfaction sets a high standard for the incoming president, ensuring that the focus remains on delivering value to the community and stakeholders alike.
Strategic Vision and Community Focus
Jay Sodey brings a wealth of expertise to his new position, underpinned by a robust educational background that includes a degree in business management and finance from Central College in Pella, Iowa, and a Certificate of Executive Leadership from the Graduate School of Banking at the University of Wisconsin – Madison. Residing in Verona, Wisconsin, Sodey is deeply embedded in the local community, aligning with the bank’s commitment to fostering meaningful connections. His vision emphasizes tailored solutions that empower both colleagues and customers, setting the stage for innovative approaches in a competitive market. Sodey has also acknowledged Stein’s mentorship as a critical factor in the market’s past successes, indicating a respect for established practices while signaling readiness to introduce fresh strategies. This balance of honoring tradition and pursuing progress is expected to guide his leadership style as he navigates the complexities of the role.
A key component of Sodey’s approach will likely center on initiatives like Engage Local, which underscores the bank’s dedication to aligning business goals with community needs. This program facilitates collaboration through charitable efforts, volunteer activities, and localized sales strategies, aiming to create a positive societal impact alongside financial growth. By prioritizing such initiatives, Sodey is positioned to strengthen trust and loyalty among customers and employees, reinforcing the bank’s reputation as a community partner. This focus on integration reflects a broader industry trend where financial institutions are increasingly measured by their contributions beyond profit margins. As Sodey assumes leadership, the emphasis on community-driven efforts will likely serve as a differentiator, enhancing the bank’s standing in the Madison market while addressing the evolving expectations of a diverse customer base in the region.
Building on a Strong Legacy
Reflecting on this leadership change, it is clear that the shift from Dave Stein to Jay Sodey was handled with a focus on continuity and shared goals for the Madison market’s future. Stein’s impactful tenure, marked by strategic advancements and a customer-centric approach, provided a solid foundation that Sodey was well-prepared to inherit. The mutual respect between the outgoing and incoming leaders underscored a unified vision that prioritized both growth and community engagement. This transition, effective at the start of 2026, was not just a change in title but a reaffirmation of the bank’s core values, ensuring that its presence in the Midwest remained robust and responsive to local needs.
Looking ahead, the path forward involves leveraging Sodey’s extensive experience to explore new avenues for innovation while maintaining the high standards set by Stein. Stakeholders can anticipate a renewed focus on tailored solutions and programs that bridge business objectives with societal benefits. As the banking landscape continues to evolve, attention should be paid to how strategic initiatives under Sodey’s guidance can further solidify the bank’s position as a trusted partner in the region. This moment offers an opportunity to assess and adapt to emerging trends, ensuring that the Madison market thrives through proactive leadership and a steadfast commitment to its community.
