U.S. Bank's Private Client Reserve high-net-worth unit will soon have a new leader in San Diego.
Scott Schmid, a wealth management advisor and managing director in St. Louis, will assume his new leadership role on May 9. He succeeds John Zygowicz, who retired in late 2015, the Minneapolis-based bank announced this week.
Scott will be overseeing the San Diego as well as the La Jolla office, which jointly employ 30 people. The goal is to double the number of employees over the next few years, the bank said.
"San Diego is an important market for us, and I am thrilled that we have someone the caliber of Scott to lead that office and provide our clients with stellar service," Mary Martuscelli, the Reserve's west region president, said in a statement.
Schmid joined the Private Client Reserve in 2010. During his six years there, he focused on creating a wealth management planning approach for clients that helped them protect and grow their investments as well as manage their liabilities, risks and personal philanthropic goals, the bank said.
Schmid oversees approximately $3 billion in client investments, of which $300 million is in active foundation and charitable administration, according to U.S. Bank.
"Scott's extensive experience, innate leadership ability, and unwavering commitment to our clients make him the ideal choice to lead the San Diego office for the Reserve," Mike Ott, president of the Reserve, said in a statement. "He has more than proven his worth with our St. Louis office."