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U.S. Bank Wealth Management's Ultra High Net Worth Group Appoints Daniel J. Rauchle to New Leadership Position


U.S. Bank Wealth Management today announced the appointment of Daniel J. Rauchle as head of investment management for U.S. Bank's Ultra High Net Worth Group. Rauchle will lead the investment process and develop and head the group that creates and implements unique and customized investment strategies for ultra high net worth clients. This includes risk management, manager due diligence, asset allocation, portfolio construction, and investment communication regarding investment policy and trust and fiduciary issues.

"Dan Rauchle is a seasoned investment executive who brings to our firm a wealth of knowledge about the asset-management business," said Michael Cole, president of the Ultra High Net Worth Group. "His experience in managing money across a wide of variety of platforms will help us serve our clients more effectively."

Rauchle has more than 22 years of experience in the financial services industry. Prior to joining U.S. Bank, he was the founder and president of Wells Fargo Alternative Asset Management, LLC (WFAAM), a subsidiary of Wells Fargo & Co. He was also head of the Wells Fargo Family Wealth Alternative Investment Group and served as chairman of both the WFAAM Investment Advisory Board and WFAAM's SEC-registered funds board. Rauchle also founded and headed Wells Fargo's Risk- Optics (SM) investment risk-assessment practice. Prior to joining Wells Fargo, he was a director with Charles Schwab's Investment Management and Retirement divisions and also headed U.S. Bank's Qualivest mutual fund complex.

"With his expertise in alternative investments and fund management, Dan is eminently qualified to provide leadership for the unique investment platform and strategies required for ultra high net worth clients," said Tim Leach, chief investment officer of Wealth Management's Asset Management Group.

Rauchle holds an M.B.A. in finance and investments/real estate investment analysis from the University of Wisconsin, a J.D. from the University of Wisconsin School of Law and a B.B.A. degree in finance from the University of Wisconsin. He is a board member of Hedge Fund Research, LLC's HFRX Index Committee.

Rauchle began his duties with U.S. Bank's Ultra High Net Worth Group on March 28, 2011, and works at the U.S. Bank office located at One California Street in San Francisco.

About the U.S. Bank Wealth Management Group

U.S. Bank's Wealth Management Group offers investment management services, brokerage, financial planning, private banking, personal trust, and insurance services to a broad range of clients. The Wealth Management Group serves ultra high net worth clients with more than $25 million in investable assets through a differentiated client service approach; high net worth clients with more than $1 million and less than $25 million in investable assets through The Private Client Reserve; and affluent clients with more than $100,000 and less than $1 million in investable assets through The Private Client Group. Brokerage services are offered through U.S. Bancorp Investments, Inc. and insurance services are offered through U.S. Bancorp Insurance, LLC.

About U.S. Bank

U.S. Bancorp (NYSE: USB), with $308 billion in assets as of Dec. 31, 2010, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,069 banking offices in 25 states and 5,310 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.

Deposit products offered by U.S. Bank National Association. Member FDIC.

Alternative investments very often use speculative investment and trading strategies. There is no guarantee that the investment program will be successful. Alternative investments are designed only for investors who are able to tolerate the full loss of an investment. These products are not suitable for every investor even if the investor does meet the financial requirements. It is important to consult with your investment professional to determine how these investments might fit your asset allocation, risk profile, and tax situation.

Not a Deposit Not FDIC Insured Not Guaranteed by the Bank
May Lose Value Not Insured by Any Federal Government Agency


U.S. Bank Wealth Management
Cheryl Stone, 612-303-5657
Vice President, Public Relations
U.S. Bank Media Relations
Amy Frantti, 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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