COLUMBIA, S.C.--(BUSINESS WIRE)--South Carolina Bank and Trust (NASDAQ:SCBT) announced Michael T. Amacher has joined SCBT Wealth Management Group as the retirement plan services division manager.
Amacher will lead the growth and development of specialized advisory services to businesses and organizations sponsoring retirement plans such as 401-K plans, 403(b) plans, pensions and profit sharing plans for employees.
“We are pleased to have someone with Mike’s credentials, expertise and experience level to lead this expanding market for us,” said George King, SCBT senior vice president.
Amacher has been providing services to retirement plan sponsors and trustees since founding the Midland’s areas first ERISA consulting firm in Columbia in 1984. Additionally, Amacher founded a Columbia-based investment brokerage and advisory practice in 1994, which served large and small retirement plan clients across the nation, including several Fortune 500 companies. The practice serviced nearly $4 Billion of retirement plan assets before its sale in 2005.
“Mike brings a new dimension to our growing institution, adding an expertise with a true entrepreneurial vision that we encourage at SCBT,” said Todd Harward, president SCBT Wealth Management Group. “Our culture is built on exactly the skills Mike brings to the table and we’re fortunate to have him lead this business and take it to a whole new level.”
Amacher has extensive expertise in the highly technical areas of ERISA regulation, retirement plan management, plan document preparation, plan design, administrative problem-solving, and IRS/Department of Labor problem resolution. He obtained the Qualified Pension Administrator (QPA) designation in 1989, became an Accredited Pension Administrator (APA) in 1990, and has been a member of the American Society of Pension Professionals and Actuaries (ASPPA) since 1985.
“We are indeed fortunate to welcome Mike Amacher to the SCBT family,” said John Windley, president, SCBT, N.A. “We believe that there is a significant business opportunity to advise corporate clients with respect to changes in regulations governing retirement plans and in investing plan assets, and we are excited to offer this additional expertise to our clients.”
“We believe that imminent regulatory changes will profoundly change the provision of services to retirement plan sponsors by the investment community. It will become increasingly apparent to retirement plan sponsors that they should seek support from service providers who are willing to accept fiduciary responsibility,” said Amacher. “I believe that SCBT is well-positioned to provide those services and to play a pivotal role for plan sponsors in our marketplace.”
Amacher and his wife Ann Harper Amacher reside in Blythewood, SC and are members of Bethel United Methodist Church.
SCBT Financial Corporation, Columbia, South Carolina is a registered bank holding company incorporated under the laws of South Carolina. The Company consists of SCBT, N.A., the largest publicity traded bank headquartered in South Carolina; NCBT, a division of SCBT, N.A., and Community Bank & Trust, a division of SCBT, N.A. Providing financial services for over 78 years, SCBT Financial Corporation operates 76 locations in 19 South Carolina counties, 10 northeast Georgia counties, and Mecklenburg County in North Carolina. SCBT Financial Corporation has assets of approximately $4.5 billion and its stock is traded under the symbol SCBT in the NASDAQ Global Select Market. More information can be found at www.SCBTonline.com.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50297651&lang=en