Terry Sandven Named Chief Equity Strategist for U.S. Bank Wealth Management

  Terry Sandven Named Chief Equity Strategist for U.S. Bank Wealth Management

Business Wire

MINNEAPOLIS -- December 19, 2012

U.S. Bank Wealth Management, a top 20 wealth manager,* announced today that
Terry Sandven has been appointed chief equity strategist, a new position
within U.S. Bank Wealth Management. Sandven reports to Tim Leach, chief
investment officer of U.S. Bank Wealth Management.

Terry Sandven, U.S. Bank Wealth Management (Photo: U.S. Bank)

Terry Sandven, U.S. Bank Wealth Management (Photo: U.S. Bank)

“Terry brings a strong background in overseeing comprehensive equity
strategies to his new position,” Leach said. “His expertise in equity
management will help position U.S. Bank Wealth Management as a leading
industry voice on developments within the equity markets.”

Sandven will build and lead the strategic equity management team that manages
individual stocks not managed by third-party managers for all client accounts
of Ascent Private Capital Management of U.S. Bank, the ultra-high-net-worth
unit of U.S. Bank Wealth Management. Sandven will also lead the equity
workgroup, which supervises equity investment policy and strategic process.
Additionally, he will serve as the primary source of information about equity
investment at U.S. Bank Wealth Management.

Sandven joins U.S. Bank from Piper Jaffray, where he served for more than 18
years. He most recently served as head of product management and was
responsible for analyzing, refining and distributing equity research
recommendations across the firm, including market commentary.

Sandven earned a bachelor’s degree in business administration from Concordia
College in Moorhead, Minn., and a Master of Arts degree in communication from
the University of Wisconsin-Milwaukee. He also holds an M.B.A. degree from the
Carlson School of Management at the University of Minnesota.

About U.S. Bank Wealth Management
U.S. Bank Wealth Management offers comprehensive wealth management services,
including investment management, private banking, personal trust and estate
administration, financial planning, multigenerational wealth planning, and
family dynamics and governance for individuals, families, and their
foundations. Ascent Private Capital Management serves ultra-high-net-worth
clients with $25 million or more of investable assets; The Private Client
Reserve (privateclientreserve.usbank.com) serves high-net-worth clients with
more than $1 million of investable assets; and The Private Client Group serves
affluent clients with more than $100,000 of investable assets.

About U.S. Bank
Minneapolis-based U.S. Bancorp (NYSE: USB), with $352 billion in assets as of
September 30, 2012, is the parent company of U.S. Bank National Association,
the fifth-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, 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 on the web at usbank.com.

* Barron’s 2012 survey of "Top 40 Wealth Managers,” Sept. 15, 2012.

Deposit products offered by U.S. Bank National Association. Member FDIC.
Credit products offered by U.S. Bank 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 other companies or organizations
mentioned in this publication. U.S. Bank is not responsible for and does not
guarantee the products, services or performance its affiliates or

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Cheryl Stone
Vice President, Public Relations
U.S. Bank Wealth Management
(612) 303-5657
Robin Francis
U.S. Bank Wealth Management
(651) 466-7187
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