U.S. Bancorp's (USB) wealth management division has appointed Benton Reichenau as head of product services.
In the newly created role, Reichenau will spearhead the research and development of banking, wealth planning, investment management and trust products across U.S. Bancorp's wealth management division, the company said in a press release Monday.
Reichenau joins U.S. Bancorp from Ernst & Young's San Francisco office, where he was a principal leading the West Coast financial services office performance improvement consulting practice. Before that, he headed the investment management and trust products and services unit of Wells Fargo's (WFC) wealth management division. He has also worked with Merrill Lynch as a financial advisor.
U.S. Bancorp's wealth management arm has made several personnel changes in recent months. Its asset management business for high-net-worth clients, the Private Client Reserve of U.S. Bank, announced earlier this month that it had added a former Mayo Clinic executive to its health care team. The Private Client Reserve also named a new president in October.
The $361 billion-asset U.S. Bancorp is based in Minneapolis.