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PREMIER Bankcard President Ben Marcello Departed

The Sioux Falls company entered a leadership transition following a difference of views between top executives.

Updated on Oct. 5, 2026 in People

Bold flat-color editorial illustration featuring a geometric bank facade, representing a shift in corporate leadership.
PREMIER Bankcard president Ben Marcello has departed the company, with CEO Miles Beacom assuming interim leadership during the organizational transition. AI Illustration. Upload story photo >

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In September 2026, Ben Marcello left his position as president of PREMIER Bankcard. Chairman and CEO Miles Beacom has taken over as the company's interim president.

Why it matters

The change follows a difference of views within the leadership team, marking a shift for the Sioux Falls-based financial institution. This transition occurred after the organization transferred ownership to the Denny Sanford Foundation earlier in 2026.

PREMIER Bankcard employs approximately 2,000 people across South Dakota while serving 4 million customers nationwide. The company remains a top 20 issuer of Mastercard credit cards.

The players

Ben Marcello

He served as the president of PREMIER Bankcard from 2023 until his departure in September 2026.

Miles Beacom

He has served as the CEO of PREMIER Bankcard since 1993 and is currently the interim president.

T. Denny Sanford

He was the founder of PREMIER Bankcard and passed away at the age of 90 in April 2026.

PREMIER Bankcard

This Sioux Falls-based company is a major financial services provider and top 20 Mastercard issuer.

Denny Sanford Foundation

This organization assumed ownership of PREMIER Bankcard earlier in 2026.

The details

Chairman and CEO Miles Beacom, who has led the firm since 1993, is managing the company's operations in the interim. The bank expects to initiate a search for a permanent successor to the president role once the current transition period settles.

Timeline

  1. Miles Beacom began serving as CEO in 1993.

  2. Ben Marcello began his tenure as president in 2023.

  3. Founder T. Denny Sanford died in April 2026.

  4. Ben Marcello left the company in September 2026.

  5. Miles Beacom announced the leadership change on Monday, October 2026.

Market Landscape

The leadership departure follows the 2026 ownership transfer to the Denny Sanford Foundation, which fundamentally altered the firm's governance structure. This transition positions the company to redefine its strategic direction following the loss of its founder earlier this year.

The transition to interim leadership will not change the immediate banking services or account access for the company's 4 million customers. Management plans to open the recruitment process for a new president once the current internal reorganization concludes.

The takeaway

Management changes in established financial institutions often follow shifts in foundational ownership or internal governance goals. Customers should observe if the upcoming permanent appointment leads to new service policies or expanded digital offerings.

Further reading

For more information on local leadership changes, visit the Sioux Falls People section.

Source note: This article includes information reported by Watertown Public Opinion.

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