U.S. Bancorp Asset Management, a subsidiary of U.S. Bancorp in Minneapolis, said Wednesday that it will change its name to FAF Advisors on March 31 in an attempt to more strongly associate the asset management unit and its First American Funds mutual fund family.
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FAF Advisors is to remain a subsidiary of U.S. Bancorp. And George Washington's image, which has been used in First American Funds advertising campaigns since 2001, will also figure prominently in FAF Advisors' branding, the company said.
U.S. Bancorp Asset Management had about $90 billion of assets under management at Jan. 31.
