U.S. Bank Wealth Management has hired a veteran asset manager to be its chief equity strategist.
The subsidiary of the $352 billion asset U.S. Bancorp (USB) said Wednesday it has named Terry Sandven to the newly created post.
Sandven will be responsible for leading a team that manages individual stocks on behalf of clients of Ascent Private Capital Management, which caters to investors who have at least $25 million in assets, and for supervising investment policies and processes.
He also will be the primary source of information about equity investment at U.S. Bank Wealth Management.
Until May, Sandven was head of product management at Piper Jaffray (PJC), where he also served as a director in the portfolio strategy group over his roughly 18 years with the firm.
"Terry brings a strong background in overseeing comprehensive equity strategies to his new position," Tim Leach, U.S. Bank Wealth Management's chief investment officer, said in a news release. "His expertise in equity management will help position U.S. Bank Wealth Management as a leading industry voice on developments within the equity markets."
