MILWAUKEE, May 25, 2016 /PRNewswire/ -- In an announcement made May 5th at a board of directors' meeting by board chair, Michael K. McMahan stated that David A. Eichenbaum was appointed Chief Executive Officer. Chris Foregger was designated President and Chief Operating Officer. According to McMahan, "Since First Capital Surety & Trust was purchased by Gaston Capital, both David and Chris have been serving in interim positions. Impressed with the strong management team, the board enthusiastically voted to make the appointments permanent."
David A. Eichenbaum is a graduate of the University of Wisconsin-Eau Claire and received his Bachelor of Business Administration. Eichenbaum's responsibilities encompass a broad range of areas including corporate development, sales, finance, software and marketing.
Chris Foregger's career at First Capital has expanded over the course of 13 years beginning in trust operations and extending to management of the trust services team for 7 years. Foregger is a 1998 graduate of the University of Minnesota with a degree in Political Science and Economics.
About First Capital Surety & Trust
Eichenbaum stated, "All of us at First Capital are excited by the potential for Gaston Capital to contribute to our investment in trust services. We have experienced record growth, the Board of Directors has challenged the management team to not just sustain our high levels of client service but to exceed them."
First Capital Surety & Trust Company is a South Dakota-charted trust company created in 1999 with the intent of providing trust services to the personal injury settlement industry. Since inception 2,000 settlement trusts have been administered, including 350 special needs trusts, making it a leading provider of special needs trusts. With administrative offices in Milwaukee, 25 employees administer over $530 million in assets. The company is relocating to a new office building at 234 W. Florida Street.
Gaston Capital Partners is a private equity firm in Belmont, NC. The company and its partners acquired First Capital Surety & Trust in 2015.
Michael K. (Mick) McMahan is the founder and Managing Partner of Gaston Capital Partners firm. He has more than thirty-five years experience managing investment portfolios and working with small businesses. He has been listed as a top-ranked Charlotte-area financial advisor by the Charlotte Business Journal and in Barron's as one of the top 100 independent financial advisors in the country.
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SOURCE First Capital Surety & Trust