Breaking News

Dollar Tree Agrees to Buy Family Dollar for $74.50 a Share
Tweet TWEET

U.S. Bancorp Fund Services Acquires AIS Fund Administration

  U.S. Bancorp Fund Services Acquires AIS Fund Administration

Business Wire

MILWAUKEE -- November 13, 2012

U.S. Bancorp Fund Services, LLC (“USBFS”), a subsidiary of U.S. Bancorp
(NYSE:USB), announced it has agreed to acquire AIS Fund Administration
(“AIS”), a leading provider of fund administration and related services to
alternative investment managers.

The transaction adds approximately $25 billion in hedge fund assets under
administration to U.S. Bancorp Fund Services’ existing alternative investments
business, along with 176 employees in New Jersey, the United Kingdom and the
Cayman Islands. With this transaction, USBFS will service $50 billion in
alternative investment assets and create a best-of-breed middle-office and
back-office services platform to provide a wide range of support services to
fund managers and investors across the alternative asset spectrum.

Terrance Dolan, vice chairman, U.S. Bank Wealth Management & Securities
Services, said, “This acquisition is another key step in U.S. Bank’s strategic
growth of our securities services business. This enables us to expand our fund
servicing capabilities and complements our focus on corporate trust services.”

“This is an important acquisition for U.S. Bancorp Fund Services as it
demonstrates our long term commitment to becoming an alternative investment
services leader,” said Joe Redwine, president, U.S. Bancorp Fund Services. “We
are pleased that the AIS organization will become part of our team and
continue the tradition of innovation and superior service that both
organizations are known for in the industry.”

“We are excited to become a part of the U.S. Bancorp team, an organization
that shares AIS' mission, values and approach to customer service,” said Boris
Tiomkin, CEO of AIS Fund Administration. “We believe the addition of U.S.
Bancorp's highly regarded suite of services, such as custody, trust, and other
banking services, will provide significant benefits to our clients.”

Current clients of both organizations will continue to work with the same
teams, while also benefiting from an enhanced suite of operational
capabilities and services to help meet their business objectives. The
transaction is subject to regulatory approval.

About U.S. Bancorp Fund Services
Headquartered in Milwaukee since 1969, U.S. Bancorp Fund Services, LLC
provides single-source solutions to support a variety of investment strategies
and products including mutual funds, alternative investments, open-end,
closed-end, and exchange traded funds. The division currently services 349
fund families comprised of 2,240 portfolios, 2,427 fund classes, and 4.1
million shareholder accounts with $680 billion in client assets. U.S. Bancorp
Fund Services is a subsidiary of U.S. Bank, the fifth largest commercial bank
in the United States. Visit U.S. Bancorp Fund Services on the web at
www.usbfs.com.

About U.S. Bancorp
U.S. Bancorp, with $352 billion in assets as of Sept. 30, 2012, is the parent
company of U.S. Bank, the 5th largest commercial bank in the United States.
The company operates 3,086 banking offices in 25 states and 5,080 ATMs and
provides a comprehensive line of banking, brokerage, insurance, investment,
mortgage, trust and payment services products to consumers, businesses and
institutions. U.S. Bancorp and its employees are dedicated to improving the
communities they serve, for which the company earned the 2011 Spirit of
America Award, the highest honor bestowed on a company by United Way. Visit
U.S. Bancorp at www.usbank.com.

About AIS
With offices in Hackensack, New Jersey, London, and the Cayman Islands, AIS
provides fund administration and middle- and back-office services to hedge
funds. Founded in 2002, AIS offers a comprehensive service platform to leading
hedge fund managers. AIS administers approximately $25 billion in assets.
Since inception, AIS has earned a reputation as a leader in the administration
of fixed income assets, mortgage- and asset-backed instruments, derivatives,
equities and other assets through its proven ability to provide solutions for
complex fund structures and strategies. Further information about AIS can be
found at www.aisgrp.com.

Contact:

U.S. Bancorp
Tom Joyce, Public Relations
(612) 303-3167
or
Judith Murphy, Investor Relations
(612) 303-0783
or
U.S. Bancorp Fund Services
Mark Pawlyshyn, Marketing Manager
(414) 765-5758