Columbian Financial Group promotes Fosbury to president

BINGHAMTON, N.Y. — Columbian Financial Group announced it has promoted Michael Fosbury to president, effective on Jan. 1.

Fosbury will assume the president’s role from Thomas Rattmann, who remains Columbian Financial’s chairman & CEO.

Besides the promotion, Fosbury has also been elected to Columbian’s board of directors, according to a news release the company issued on Friday.

Fosbury joined Columbian Financial in 2003 as VP of investments and chief investment officer.

He eventually became involved in other parts of the company’s operations, including administration, human resources, marketing, and information technology.

Columbian promoted him to senior VP of investments in 2009; to executive VP in 2013; and to the position of executive VP, chief investment officer and COO in 2014.

Columbian Financial also announced the promotion of Dale Spencer to chief investment officer, effective Jan. 1, 2016.

Spencer in 2009 started as the bond portfolio manager in its investment department and “has assumed growing responsibilities ever since,” the firm said.

He most recently executed a “major restructuring strategy” for Columbian’s investment portfolio to “better position” the firm in the current low interest-rate environment, the company said.

Binghamton–based Columbian Financial Group includes Columbian Mutual Life Insurance Company, the parent company. It also has Columbian Life Insurance Company, Columbian Financial Services Corporation, New Vision Service Corporation of New York and other affiliated companies, according to its website

Columbian has an administrative-services office in Syracuse, the website says.

Contact Reinhardt at ereinhardt@cnybj.com