U.S. Bank is staffing up its new wealth management office in Seattle for uber wealthy clients.
It has named two industry veterans to key positions within Ascent Private Capital Management, the banks wealth advisory business for ultra-high-net-worth clients.
Michelle Walker joins Ascents new Seattle office as managing director of investment consulting responsible for providing clients with customized investment plans. She was formerly with Cascade Investment, a high-net-worth family office in Seattle, where she served as an investment specialist and money manager for 10 years. Prior to that, she managed a multimillion-dollar mortgage-backed securities trading business, according to U.S. Bank.
Robert Stadler joins Ascent as managing director of private banking. He was previously vice president and regional credit executive in Bank of Americas wealth management business and before that vice president with Merrill Lynch Wealth Management.
Both Walker and Stadler will be supported by a national wealth advisory team that provides wealth impact planning, financial administration and other expertise in the Pacific Northwest, U.S. Bank said.
The new hires are the latest in a string of staff additions since the new office opened earlier this year. Two directors were hired in November and two managing directors were hired late October. The office has 10 employees in total, U.S. Bank said.
Minneapolis-based U.S. Bank is a subsidiary of U.S. Bancorp, a bank holding company with $352 billion in assets as of Sept. 30, 2012. Ascent Private Capital Management is part of U.S. Bank Wealth Management, the banks wealth management business.