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Mary Martuscelli Named West Region President for the Private Client Reserve of U.S. Bank

MINNEAPOLIS--(BUSINESS WIRE)--Oct. 2, 2012-- U.S. Bank, a leading provider of wealth management and private banking services,* announced today that Mary Martuscelli has been appointed West Region President for The Private Client Reserve of U.S. Bank. In this role, she will be responsible for growing and managing all aspects of The Private Client Reserve’s business in Washington, Oregon, California, Arizona, Nevada, Utah and Colorado. Martuscelli reports to Michael Boardman, President of The Private Client Reserve, and is based in U.S. Bank’s Phoenix office.

“Mary has the level of leadership, experience and passion that we need to lead our team of wealth management professionals in the west region,” Boardman said. “We are thrilled that she has chosen U.S. Bank, and I am confident that she will make a meaningful contribution to our business, team and clients.”

Martuscelli brings more than 33 years of financial experience with J.P. Morgan Chase (“JPM”), where she worked in many leadership roles. She has served as Arizona President for JPM since 2007 and most recently served as Managing Director of Private Banking for JPM’s Desert Mountain states. Prior to these roles, Martuscelli served as the President and Chief Executive Officer of the Specialized Industries Segment of JPM’s Commercial Bank, which focused on government, not-for-profit, healthcare, Native American, and financial institutions. Martuscelli has also worked in management roles in human resources, strategic planning, and corporate, middle market and small business banking with JPM.

A native of the Detroit area, Martuscelli earned a bachelor of science degree from Michigan State University in East Lansing, Mich., and an M.B.A. from Wayne State University. She is active in a variety of community activities in the greater Phoenix area and serves on several boards, including the Arizona Community Foundation, the Arizona Science Center, Fresh Start Women’s Foundation, and Southwest Autism Research and Resource Center.

* Barron’s ranked U.S. Bank Wealth Management the 19th-largest U.S. wealth manager in its 2012 survey of "Top 40 Wealth Managers" published on Sept. 15, 2012.

About The Private Client Reserve of U.S. Bank
The Private Client Reserve of U.S. Bank is a provider of comprehensive wealth management services 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, and financial planning designed for each client’s unique goals and needs. The Private Client Reserve is a part of U.S. Bank’s Wealth Management Group. For more information, visit www.privateclientreserve.usbank.com.

About U.S. Bank
Minneapolis-based U.S. Bancorp (NYSE: USB), with $353 billion in assets as of June 30, 2012, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The company operates 3,080 banking offices in 25 states and 5,085 ATMs and provides a comprehensive line of banking, 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 at www.usbank.com.

Deposit products offered by U.S. Bank National Association. Member FDIC. Credit products offered by U.S. Bank and subject to normal credit approval.

Investment products are:

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

U.S. Bank and its representatives do not provide tax or legal advice. Each individual’s tax and financial situation is unique. Individuals should consult their tax and/or legal advisor for advice and information concerning their particular situation.

U.S. Bank is not affiliated with the companies or organizations mentioned above. U.S. Bank is not responsible for and does not guarantee the products, services or performance of third-party vendors.

Source: U.S. Bancorp

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