Pioneer Bancorp in Albany, N.Y., bought two employee benefits businesses.
The $2 billion-asset company said in a press release that it bought Reiser Consulting Group in Albany and Wyndham Benefits in Ballston Spa, N.Y. The acquisitions doubled the size of Pioneer’s employee benefits division.
Prices were not disclosed.
“We’re excited to welcome Theresa Reiser and Chris Goodness to Pioneer as we strategically expand our Employee Benefits division,” Tom Amell, Pioneer’s president and CEO, said in the release. “Theresa brings deep industry expertise, trusted relationships, and a leadership style that aligns perfectly with Pioneer’s commitment to putting clients first. Combined with Chris’s decades of experience and extensive industry knowledge, we’re well-positioned to accelerate growth and deliver even greater value to employers across the region.”
Pioneer has been aggressively adding fee income businesses, including the creation of a HR consulting division; and a broker‑dealer subsidiary.