modernization bill, U.S. Bancorp has blazed a trail for those poised to mix and match banking and other financial services.

The Minneapolis banking company "picked up a very good deal and got a head start" by purchasing the investment manager and broker Piper Jaffray for $730 million in cash 18 months ago, said Anthony Polini, a banking analyst at Advest Inc.

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.