Eastern Colorado Bank buys interest in Cascade Investment Group
Eastern Colorado Bank has acquired a controlling interest in Cascade Investment Group, a Colorado Springs investment brokerage and advisory firm that employs seven people to manage $324 million for clients.
Cascade is owned by Ken Beach, Dana Capozella, Craig Ralston and Rob Wrubel and will continue to operate as a separate company with existing management and employees, said Beach, who is Cascade’s president. Eastern Colorado Bank first approached Cascade two years ago about selling some of its stock to the bank.
Cascade was started in 1996 by Beach, Capozella and Ralstron, all former Smith Barney investment advisers, to manage $28 million in client assets; Wrubel joined the company in 2007. The Cheyenne Wells-based bank, which operates a branch in downtown Colorado Springs, was founded in 1944, is owned by Weed Investment Group and had $456 million in assets as of March 31, according to the Federal Deposit Insurance Corporation.
Wayne Heilman, The Gazette