Ameritrust is done with downsizing and is moving on to bigger things, literally.

The mortgage firm has announced that it is moving its 70-person office from Ballantyne Corporate Park to a new location on Old Lancaster Highway to accommodate the addition of two new business: Ameritrust Insurance Services and Ameritrust Wealth Management.

The new firms will offer financial planning services, including asset management, retirement planning, tax and estate planning, and property and casualty lines of business. The company is also hiring for all three divisions to what chief executive John Owens said will be 150 employees by the end of 2010.

"We saw a huge opportunity to innovate, increase our client service, create a great partnership, and give our employees a fresh climate to start this new chapter of our company," said Owens in a statement.

The two new businesses will be led by 18-year financial services veteran Eric Frasier as president.