MINNEAPOLIS, Jul 21, 2011 (BUSINESS WIRE) --
U.S. Bank, a leading provider of wealth management and private banking
services, announced today that Michael Ott has been appointed central
region president for The Private Client Reserve of U.S. Bank. He will
retain his current role as Twin Cities market leader of The Private
"Mike's experience in the wealth and investment management business, his
military background as a lieutenant colonel in the U.S. Air Force
Reserves and his experience in the Midwest make him particularly suited
for this role," said Michael Boardman, president of The Private Client
Reserve. "Since joining U.S. Bank, Mike has demonstrated great
leadership in his roles within The Private Client Reserve."
In his new role, Ott will be instrumental in helping to continue to
drive growth across The Private Client Reserve's central region, which
includes Minneapolis/St. Paul, Chicago, Milwaukee and Madison and
represents more than $15 billion in assets under management. He will
lead a team of more than 300 investment, trust, private banking,
advisory and financial planning professionals, responsible for serving
clients across a broad geography. In this capacity, Ott will be working
with market leaders in fortifying the client experience and fostering
growth initiatives throughout U.S. Bank's wealth management platform.
Ott joined U.S. Bank in 2009 as head of investments in the Twin Cities
and later became Twin Cities market leader of The Private Client
Reserve. In this role, he has led teams of experienced professionals
across all disciplines of wealth management and has been directly
responsible for overseeing portfolio managers and the investment
process. Prior to joining U.S. Bank, Ott served as managing partner at
Somerset Asset Management LLC in Minneapolis. Prior to that, he worked
at Piper Jaffray & Co., initially in institutional equity sales and
eventually as managing director and head of the equity research
department. He has also worked for the ABN/AMRO/Chicago Corporation and
Ford Motor Company after serving as an officer in the U.S. Air Force.
Ott has an MBA from Boston College and is a graduate of the U.S. Air
Force Academy in Colorado Springs. He has also earned FINRA series 7,
24, 63 and 87 licenses. He is currently a lieutenant colonel in the U.S.
Air Force Reserves, where he serves as a military advisor for an
undersecretary of Defense in the Pentagon.
About The Private Client Reserve of U.S. Bank
The Private Client Reserve of U.S. Bank is a provider of comprehensive
wealth management solutions for high-net-worth individuals, families and
foundations with investable assets of more than $1 million. Highly
experienced wealth management advisors lead client-focused teams that
deliver forward-thinking, customized strategies including investment
management, private banking, personal trust and estate administration,
financial planning and insurance services designed for each client's
unique goals and needs. The Private Client Reserve is a part of U.S.
Bank's Wealth Management Group that serves clients with $100,000 to more
than $100 million in investable assets. For more information, visit www.privateclientreserve.usbank.com.
About U.S. Bank
U.S. Bancorp (NYSE: USB), with $321 billion in assets as of June 30,
2011, is the parent company of U.S. Bank, the fifth-largest commercial
bank in the United States. The company operates 3,086 banking offices in
25 states and 5,086 ATMs and provides a comprehensive line of banking,
brokerage, insurance, investment, mortgage, trust and payment services
products to consumers, businesses and institutions. U.S. Bancorp and its
employees are dedicated to improving the communities they serve, for
which the company earned the 2011 Spirit of America Award, the highest
honor bestowed on a company by United Way. Visit U.S. Bancorp on the web
Investment products and services are available through U.S. Bancorp
Investments, Inc., member FINRA and SIPC, an investment adviser, a
brokerage subsidiary of U.S. Bancorp and an affiliate of U.S. Bank.
Insurance products, including annuities, are available through U.S.
Bancorp Insurance Services, LLC, U.S. Bancorp Investments, Inc., in
Montana U.S. Bancorp Insurance Services of Montana, Inc., and in Wyoming
U.S. Bancorp Insurance & Investments, Inc. All are licensed insurance
agencies and subsidiaries of U.S. Bancorp. Policies are underwritten by
unaffiliated insurance companies and may not be available in all states.
Investment and insurance products are:
|Not a Deposit
||Not FDIC Insured
||Not Guaranteed by the Bank
|May Lose Value
||Not Insured by Any Federal Government Agency
SOURCE: U.S. Bank
U.S. Bank Wealth Management
Cheryl Stone, Vice President, Public Relations, 612-303-5657
Amy Frantti, U.S. Bank Media Relations, 612-303-0733