U.S. Bank Acquires PFM’s Asset Management Business
Summary
“These services complement U.S. Bank’s current book of business, and we’re thrilled to have the opportunity to increase our presence nationally and solidify U.S. Bank’s position as a leading provider of investment solutions.” Thole added, “PFM Asset Management has a great reputation in the public space, and that’s a testament to its talent. U.S. Bank is known for working with clients one-on-one to understand their unique needs and delivering customized, proactive solutions to help them meet their objectives. We’re excited to put the variety of resources offered by U.S. Bank to work for our new colleagues and clients.” Marty Margolis, head of PFM Asset Management, said, “This sale combines the resources of two organizations who recognize the importance of providing clients with exemplary customer service; our commitment to clients will remain a priority throughout the transition. We’re also very pleased that U.S. Bank aligns with our fundamental belief in creating a diverse, inclusive and ethical culture.” PFM’s financial advisory business is not part of this acquisition and will continue to operate independently as the nation’s leading independent financial advisor in terms of transactions and par amount. PFM combines superior financial advice, disciplined management and ingenuity to build, power, move and educate.