MINNEAPOLIS - First American Asset Management, a unit of U.S. Bancorp, named Doug Rose to the newly created post of senior portfolio manager Tuesday.

Mr. Rose, 42, a chartered financial analyst, will be responsible for developing and managing tax-efficient portfolios for high-net-worth investors.

He joined U.S. Bancorp in 1991 as a private equity analyst in its trust department. In 1996 he moved to First American Asset Management as an equity analyst. Since 1997 he has been a senior research analyst and portfolio manager on First American's small-cap value team, which currently manages $500 million of assets.

Before coming to U.S. Bancorp, Mr. Rose was a financial consultant with Capital Management Associates, a Minneapolis investment and financial consulting firm, where he worked for high-net-worth investors.

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