Tom Mahowald Joins Firm From American Express to Head Mid- and Large-Cap
MINNEAPOLIS, May 11 /PRNewswire-FirstCall/ -- U.S. Bancorp Asset
Management today announced that it has named Thomas Mahowald, CFA, as the new
group head of equity research for mid- and large-cap investment products.
Mahowald joins the firm from American Express Financial Advisors, where he was
director of equity research. His objectives as group head of mid- and large-
cap equity research include strengthening and leveraging the processes and
disciplines used by the firm's fundamental research analysts and portfolio
Mahowald, who has 15 years of industry experience, served as an equity
analyst at American Express Financial Advisors prior to being appointed
director of equity research in 2001. Prior to that, he was an equity analyst
at Northern Trust Corporation and Northwestern Mutual Life Insurance Company.
He has an M.S. in finance analysis from the University of Wisconsin-Milwaukee
and a B.S. in business administration from St. John's University in
"Tom brings significant research experience to our organization," said
David Chalupnik, head of equities at U.S. Bancorp Asset Management. "These
skills will enhance and provide increased discipline to our strong
fundamental-research and portfolio-management capabilities."
About First American Funds
The First American Funds mutual fund family is the fifth-largest bank-
affiliated fund family in the United States, with more than $56 billion* in 46
open-end funds. The funds are advised by U.S. Bancorp Asset Management.
About U.S. Bancorp Asset Management
U.S. Bancorp Asset Management is a national investment firm that serves as
the registered investment advisor to First American Funds and provides
customized portfolio management to private clients, corporations, public
entities, nonprofit organizations, and other institutions. The firm is one of
the nation's leading money managers, with more than $122 billion* in assets
*Total assets listed as of March 31, 2004
The funds' investment objectives, risks, charges, and expenses must be
considered carefully before investing. The prospectus contains this and other
important information about First American Funds, and it may be obtained by
calling First American Investor Services at 800.677.FUND or visiting
firstamericanfunds.com. Read the prospectus carefully before investing.
Investment products, including shares of mutual funds, are not obligations
of, or guaranteed by, any bank, including U.S. Bank or any U.S. Bancorp
(NYSE: USB) affiliate, nor are they insured by the Federal Deposit Insurance
Corporation, the Federal Reserve Board, or any other agency. An investment in
such products involves investment risk, including possible loss of principal.
U.S. Bancorp Asset Management, Inc., serves as the investment advisor to
First American Funds. First American Funds are distributed by Quasar
Distributors, LLC, an affiliate of the investment advisor.
SOURCE U.S. Bancorp Asset Management, Inc.