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U.S. Bank Names John Benevides as East Region President of The Private Client Reserve

CINCINNATI--(BUSINESS WIRE)--Dec. 3, 2015-- U.S. Bank has named John Benevides as the east region president of The Private Client Reserve. The company manages $130 billion of investments for clients, and its wealth management business is ranked among the top 20 wealth management firms* in the country. Benevides, who will be based out of The Private Client Reserve’s Cincinnati office, will lead The Reserve’s wealth management team in the east region, which serves high-net-worth families and individuals out of offices in Cincinnati, Cleveland, Columbus, Louisville, Naples, Nashville, New York and Palm Beach.

“John’s extensive industry knowledge, leadership and vision in this business make him a natural choice for our growth efforts across all of U.S. Bank Wealth Management,” said Terrance Dolan, vice chair of U.S. Bank’s Wealth Management and Securities Services division. “We look forward to the impact he will have on our local market teams, but more importantly with our clients.”

Benevides has more than 25 years of wealth management and financial services experience, most recently as president and CEO of CTC myCFO, an integrated wealth management provider and a subsidiary of the Bank of Montreal. In addition, he directed the activities of BMO Delaware Trust Company and led the ultra-high-net-worth activities of BMO Harris Private Bank. Prior to that he was co-owner and president of Family Office Exchange, where he guided the firm’s strategy, drove its growth and built out its differentiation in strategic research for wealthy families.

“We took our time and did extensive due diligence in finding the perfect person to lead this strategic and highly growth-focused east region for The Private Client Reserve, and John represents everything we are looking for in an ethical, client-focused, forward-thinking leader,” said Mike Ott, president of The Private Client Reserve. “We are thrilled to welcome him to U.S. Bank and The Private Client Reserve.”

Benevides earned an MBA from Johns Hopkins University, a master of science in finance, also from Johns Hopkins University, and a bachelor of science in psychology and economics from the University of Maryland. He is a board member, finance committee member and chairs the advancement committee of Sinai Hospital System and is the former chairman and executive committee member for the YPO / WPO’s Family Business Network.

“I am delighted to join Terry, Mike and the entire U.S. Bank team. The integrity of leadership, the culture of the firm, the non-product orientation of advice and the focus on serving clients first is a rare combination for clients in today’s marketplace. I look forward to engaging our clients and to actively building on the strong presence of our local market teams,” Benevides said.

About The Private Client Reserve
The Private Client Reserve serves individuals and families, business owners, including corporate executives, professionals and others who have complex financial interests and needs. Key services include investment management, insurance services, private banking, trust and estate services and wealth planning. The Reserve is committed to providing consistent high-quality advice and individualized attention. For more information, visit reserve.usbank.com.

About U.S. Bancorp
Minneapolis-based U.S. Bancorp (“USB”), with $416 billion in assets as of Sept. 30, 2015, is the parent company of U.S. Bank National Association, the fifth largest commercial bank in the United States. The Company operates 3,151 banking offices in 25 states and 5,001 ATMs and provides a comprehensive line of banking, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.

* Barron’s "Top 40 Wealth Management Firms,” Sept. 26, 2015, ranked by client assets in accounts of $5 million or more as of March 31, 2015.

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

Source: U.S. Bank

U.S. Bank
Michael Walsh, 612-303-9122
Vice President of Public Relations

"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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