U.S. Bank Adds New Division to Serve Private Capital Asset Managers
22 2월 2024 - 10:00PM
Business Wire
Stephen Jeselson to lead new team, which
will serve more than 200 existing private capital clients
U.S. Bank today announced it has launched a new division
dedicated to serving private capital firms and global asset
managers.
The Private Capital and Global Asset Management division brings
together all parts of the bank that currently serve more than 200
private capital clients with a range of products and services,
including fund custody and administration as well as lending and
capital markets underwriting and distribution. The centralized team
of private capital experts streamlines the experience for asset
managers and will help the bank grow its offering to additional
private equity and private credit firms and other diversified
investment managers.
Stephen Jeselson has been named head of the division. For the
last five years, Jeselson has been a managing director at U.S.
Bank, helping lead the bank’s financing of private equity firms and
their portfolio companies. He has more than 25 years’ experience
partnering with private equity fund managers to help them
succeed.
“Our unique product mix – especially with our industry-leading
corporate trust and fund services capabilities – has put us in an
excellent position to meet the needs of private capital asset
managers,” said Gunjan Kedia, vice chair of Wealth, Corporate,
Commercial and Institutional Banking. “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. The new 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.”
U.S. Bank’s Private Capital and Global Asset Management division
provides comprehensive fund finance, foreign exchange, treasury
management, depositary services, capital markets solutions and
trustee capabilities to the asset management industry. U.S. Bank is
differentiated by its product offerings with market leadership in
Corporate Trust and Global Fund Services offerings to private
capital and other fund managers.
Assets under management in private capital funds have grown
considerably in recent years, alongside the expansion of the
broader global asset management industry. The new division will
continue to expand upon U.S. Bank’s success in its financing and
asset-servicing capabilities for the industry.
About U.S. Bank
U.S. Bancorp, with more than 70,000 employees and $663 billion
in assets as of December 31, 2023, is the parent company of U.S.
Bank National Association. Headquartered in Minneapolis, the
company serves millions of customers locally, nationally and
globally through a diversified mix of businesses including consumer
banking, business banking, commercial banking, institutional
banking, payments and wealth management. U.S. Bancorp has been
recognized for its approach to digital innovation, community
partnerships and customer service, including being named one of the
2023 World’s Most Ethical Companies and Fortune’s most admired
superregional bank. To learn more, please visit the U.S. Bancorp
website at usbank.com and click on “About Us.”
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version on businesswire.com: https://www.businesswire.com/news/home/20240222636837/en/
Todd Deutsch, U.S. Bank Public Affairs and Communications
todd.deutsch@usbank.com | 612.303.4148
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