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Heidi Steiger Joins the Private Client Reserve of U.S. Bank; Named Atlantic Region President

NEW YORK & MINNEAPOLIS, Dec 09, 2010 (BUSINESS WIRE) -- Heidi Steiger has joined The Private Client Reserve of U.S. Bank in a newly created role as the Atlantic region president. Steiger is responsible for the launch of the New York City market, including the development of the Boston, New York, and Washington, D.C. corridor, as well as the growth of Florida markets for The Private Client Reserve. In addition to her managerial responsibilities on the Atlantic coast, Steiger will also support the strategic direction of The Private Client Reserve.

Steiger reports to Michael Boardman, president of The Private Client Reserve of U.S. Bank. She works at the company's New York office at 461 Fifth Avenue. Steiger will also work at the U.S. Bank office located at 515 N. Flagler Drive in West Palm Beach, Florida.

"Heidi brings an immense amount of wealth management experience to our leadership team, including more than 30 years in the financial services industry," said Boardman. "Heidi's strong strategic background and knowledge of our industry will add tremendous value as we continue to grow from coast to coast as a national wealth management firm."

Most recently, Steiger served as an advisory director at Berkshire Capital Securities, an investment bank focused on the financial services industry. She was also a managing partner at Topridge Associates, LLC and was president of Lowenhaupt Global Advisors, LLC. In addition, Steiger spent 20 years as executive vice president at Neuberger Berman in New York.

Steiger began her career in marketing and business development at Fidelity Management Group in Boston. She is the former president of Worth magazine and earned a Bachelor of Arts degree from Boston College and an M.B.A. from Columbia University in New York. Steiger also serves on several for-profit boards and is on the Chairman's Council of the Whitney Museum in New York and is a board member of the Women's Forum. Steiger is also a member of the Committee of 200 and the Modern & Contemporary art subcommittee of the Museum of Fine Arts Houston.

The Private Client Reserve of U.S. Bank is a provider of wealth management solutions for high net worth individuals, families and foundations. Highly experienced wealth advisors lead a client-focused team that delivers customized investment management, private banking, personal trust and estate administration, financial planning and insurance services to meet each client's unique goals and needs. The Private Client Reserve has 43 offices in 18 states with $33.5 billion in assets under investment management. Visit The Private Client Reserve of U.S. Bank on the web at www.privateclientreserve.usbank.com.

U.S. Bancorp (NYSE: USB), with $291 billion in assets as of Sept. 30, 2010, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,013 banking offices in 24 states and 5,323 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 www.usbank.com.

SOURCE: U.S. Bank

U.S. Bank
Amy Frantti, Media Relations, 612-303-0733

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.



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