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U.S. Bank Names Scott Schmid as Market Leader for The Private Client Reserve in San Diego

SAN DIEGO--(BUSINESS WIRE)--Apr. 25, 2016-- U.S. Bank has named Scott Schmid as the market leader for The Private Client Reserve in San Diego. U.S. Bank manages $125 billion of assets for clients, and its wealth management business is ranked among the top 20 wealth management firms* in the country. Scott, who is currently a wealth management advisor and managing director for The Private Client Reserve’s St. Louis office, will assume the new role on May 9 and will relocate to San Diego to lead that office. The former head of the San Diego office, John Zygowicz, retired in late 2015.

“Scott’s extensive experience, innate leadership ability, and unwavering commitment to our clients make him the ideal choice to lead the San Diego office for The Reserve,” said Mike Ott, president of The Private Client Reserve. “He has more than proven his worth with our St. Louis office, and we are thrilled that he will bring that same work ethic and dedication to our clients to the San Diego office.”

Scott, who has more than 25 years of financial services experience, joined The Private Client Reserve in 2010. During the past six years, he has focused on creating a comprehensive wealth planning approach for his clients that not only can help protect and grow their investments, but also helps manage their liabilities, risks, and personal philanthropic goals. He oversees approximately $3 billion in client investments, of which $300 million is in active foundation and charitable administration.

“San Diego is an important market for us, and I am thrilled that we have someone the caliber of Scott to lead that office and provide our clients with stellar service. Scott represents everything we are looking for in an ethical, client-focused, forward-thinking leader,” said Mary Martuscelli, west region president of The Private Client Reserve.

Scott received a bachelor’s degree in business administration from Rice University in Houston, and an MBA in finance from Washington University in St. Louis. He currently serves on the boards of The Little Bit Foundation, The Dana Brown Foundation, The Sidney R. Baer Foundation and John Burroughs High School. Scott is a father of three and in his spare time enjoys tennis, golf and movies. He and his wife, Rhonda, currently reside in St. Louis and plan to relocate to San Diego.

“I am excited to be able to share my deep knowledge of the unique services of The Private Client Reserve with our clients in the San Diego area,” Scott said. “The integrity and culture of this firm is truly inspiring. The non-product nature of our advice and the focus on serving clients first is a rare combination in the financial services industry today. I look forward to fully engaging our clients in San Diego and further strengthen the commitment and effectiveness of an already very strong team.”

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, 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
U.S. Bancorp (NYSE:USB), with $422 billion in assets as of Dec. 31, 2015, is the parent company of U.S. Bank National Association, the fifth largest commercial bank in the United States. The company operates 3,133 banking offices in 25 states and 4,936 ATMs and provides a comprehensive line of banking, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bank has been recognized by the Ethisphere Institute as a 2016 World's Most Ethical Company™. 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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