Ott will lead U.S. Bank’s high-net-worth business throughout the United States
MINNEAPOLIS–(BUSINESS WIRE)–Oct. 28, 2013– U.S. Bank Wealth Management, ranked among the top 20 U.S. wealth managers,* announced today that Mike Ott has been named President of The Private Client Reserve of U.S. Bank, the bank’s high-net-worth business with 37 offices in 19 states and employing 1,300 financial professionals. He will also become a member of U.S. Bank’s Wealth Management Executive Committee. Ott previously served as Central Region President and Twin Cities Market Leader for The Private Client Reserve.
“Mike’s wealth management expertise and creative and collaborative nature make him a perfect fit for this critical leadership position,” said Mark Jordahl, President of U.S. Bank Wealth Management. “He has been deeply involved in helping build The Private Client Reserve and brings strong depth of knowledge and a passion for the wealth management business.”
Ott joined U.S. Bank in 2009 as head of investments for The Private Client Reserve, Twin Cities. He was named Twin Cities Market Leader for The Private Client Reserve in 2010 and appointed Central Region President in 2011. During his 18-year career in financial services, Ott held a number of other leadership roles in institutional and private asset management, institutional equity sales, and also served as the head of equity research at Piper Jaffray in Minneapolis.
Ott is a graduate of the U.S. Air Force Academy in Colorado Springs and earned an M.B.A. from Boston College. A Colonel in the U.S. Air Force Reserve, Ott served six-and-a-half years in active duty and continues to serve with the Minnesota National Guard and at the Pentagon as an advisor for cyber operations and innovation. This year, he was instrumental in helping U.S. Bank win the coveted Freedom Award, the highest honor given to employers in recognition of a company’s commitment to supporting National Guard and Reserve employees. He continues to be a strong advocate for veterans and their families within U.S. Bank.
About The Private Client Reserve
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 services 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 reserve.usbank.com
About U.S. Bank
Minneapolis-based U.S. Bancorp (NYSE: USB), with $361 billion in assets as of Sept. 30, 2013, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The company operates 3,088 banking offices in 25 states and 4,937 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 usbank.com.
* Barron’s “Top 40 Wealth Managers,” Sept. 17, 2012, ranked by client assets in accounts of $5 million or more as of June 30, 2012
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Source: U.S. Bank
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