U.S. Bancorp stands to gain a needed chunk of fixed-income assets when it buys neighboring broker-dealer Piper Jaffray Cos.

Minneapolis-based U.S. Bancorp would acquire 32 mutual funds, which includes some $4.7 billion in taxable bonds, as well as $1 billion in municipal securities, according to figures obtained from Piper Jaffray.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.