MINNEAPOLIS, Jul 15, 2010 (BUSINESS WIRE) --
As part of a continued focus on expanding its wealth management
organization, the U.S. Bank Wealth Management Group is creating two new
leadership positions. Michael Cole, formerly with Wells Fargo, will join
U.S. Bank as president of its ultra high net worth business. In
addition, the bank is promoting Michael Boardman, currently Central
region president for The Private Client Reserve at U.S. Bank, to
president of that entire group. The Private Client Reserve supports the
needs of high net worth clients.
In these new leadership positions, Cole and Boardman will report
directly to Mark Jordahl, president of the U.S. Bank Wealth Management
Terrance Dolan, who was recently named vice chairman and head of Wealth
Management and Securities Services at U.S. Bank, stated, "The U.S. Bank
Wealth Management Group has been serving high net worth and ultra high
net worth clients for many years. Being able to fill these two very
important leadership roles with highly qualified industry professionals
will allow us to further enhance our focus and service delivery to these
important market segments."
"Michael Cole brings great depth and experience to the U.S. Bank Wealth
Management Group, and in particular, significant insight and expertise
in serving ultra high net worth clients," said Jordahl. "Promoting
Michael Boardman to lead The Private Client Reserve will allow us to
ensure a continued clear focus on our high net worth clients as well. He
is a seasoned executive who has worked with high net worth clients for
his entire career."
Previously, Cole held senior wealth management positions at Wells Fargo
and Merrill Lynch. Most recently he was executive vice president and
national director of the Family Wealth Group and Wealth Planning Center
at Wells Fargo. Cole earned a Bachelor of Arts degree from Emory
University in Atlanta. He is also a Certified Financial Planner. Cole
works at U.S. Bank's One California St. office in San Francisco. He
resides in the San Francisco Bay area with his family.
Prior to joining U.S. Bank in 2008, Boardman held senior wealth
management positions at U.S. Trust, Charles Schwab & Co., Inc. and
JPMorgan Chase. Boardman earned a Bachelor of Arts degree from
Middlebury College in Middlebury, Vermont, and an MBA from Columbia
University in New York City. Boardman works at U.S. Bank's headquarters
at 800 Nicollet Mall in downtown Minneapolis. He resides in the
Minneapolis area with his family.
The ultra high net worth business provides comprehensive wealth
management advice and strategies to individuals and families with $25
million or more in investable assets. The Private Client Reserve
supports the wealth management needs of individuals and families with
more than $1 million in investable assets.
The Wealth Management Group of U.S. Bancorp is comprised of the
company's personal trust, private banking, and private asset management
businesses, as well as the company's broker/dealer subsidiary, U.S.
Bancorp Investments and Insurance, LLC.
U.S. Bancorp (NYSE: USB), with $282 billion in assets as of March 31,
2010, is the parent company of U.S. Bank, the fifth largest commercial
bank in the United States. The company operates 3,025 banking offices in
24 states and 5,312 ATMs, and provides a comprehensive line of banking,
brokerage, insurance, investment, mortgage, and trust and payment
services products to consumers, businesses and institutions. Visit U.S.
Bancorp on the web at usbank.com.
Note to editors: digital photos of Michael Cole and Michael Boardman are
available; contact Amy Frantti.
SOURCE: U.S. Bank
Amy Frantti, Media Relations, 612-303-0733