Republican U.S. Senate candidate and Madison business owner Eric Hovde has said he will step away from his managerial role with the Utah-based bank he oversees if his November bid against Democratic incumbent Sen. Tammy Baldwin is successful, according to the Wisconsin State Journal. Hovde would no longer serve as Sunwest Bank’s CEO and chairman of the board but is still considering his options when it comes to his financial holdings in the bank — which has an estimated $3.2 billion in assets.
Hovde’s reported assets — the majority in real estate holdings in Madison and Milwaukee, corporate securities, and Sunwest Bank stock — are worth between $195 million and over $563 million.
