The Bank Slate


U.S. Bancorp creates group to serve private capital firms

U.S. Bancorp in Minneapolis has formed a division to serve private capital firms and global asset managers.

The $663 billion-asset company said in a press release that the new division will serve more than 200 private capital clients in areas such as fund custody and administration, lending and capital markets underwriting and distribution.

Stephen Jeselson, a managing director at the bank, was named head of the division.

“Our unique product mix … has put us in an excellent position to meet the needs of private capital asset managers,” Gunjan Kedia, vice chair of wealth, corporate, commercial and institutional banking, said in the release.

“With a proven service model designed for the complexities of managing these funds, we have developed deep relationships with many of the leading private capital asset managers,” Kedia added. The division “will create the focus and resources necessary to give our growing number of private capital clients access to the financial services and expertise they need.”

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