Dennis Wallestad is moving from Strong Financial to Bank of New York's BNY Clearing Services. He had been president of Strong Investments. The move leaves him in Wisconsin as clearing unit it located in Milwaukee.

In the new job, he takes the title of executive vice president and chief administrative officer. He will be responsible for leading the finance, operations, risk management and human resources functions for BNY Clearing.

C. Michael Viviano, chief executive officer of BNY Clearing Services, explained that the hiring of Wallestad was part of an effort by the firm to grow that business.

Wallestad was most recently president of Strong Investments, Inc., a unit of Strong Financial Corporation. A spokesperson from Strong did not comment on whether Wallestad has been replaced at the firm.  

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