Reuters first to reveal wealth management ambitions of US Bancorp

Reuters was the first, and still the only, news organization to reveal the wealth management expansion plans of U.S. Bancorp. As one of the largest and healthiest commercial banks, US Bancorp executives expect it can grab a bigger share of the country’s rich and super-rich market. In an interview on Nov. 16, wealth management chief Mark Jordahl described his bank’s efforts to build out a business catering to people with more than $25 million of assets, putting it in competition with established players like JPMorgan and Northern Trust. The interview also provided details on the bank’s hiring efforts, how its new business unit was quietly launched last month and Jordahl’s vow to continue aggressive expansion. This is the kind of story that Reuters wealth management industry readers need as they survey the competitive landscape.