U.S. Bank Wealth Management has hired Daniel J. Rauchle as head of investment management in its Ultra High Net Worth Group. In this role, he is in charge of portfolio construction, asset allocation, manager due diligence, risk management and investment communication.

“Dan Rauchle is a seasoned investment executive who brings to our firm a wealth of knowledge about the asset management business,” said Michael Cole, president of the Ultra High Net Worth Group. “His experience in managing money across a wide variety of platforms will help us serve our clients more effectively.”

A 22-year veteran of the financial services industry, Rauchle previously was founder and president of Wells Fargo Alternative Asset Management. He was also head of the Wells Fargo Family Wealth Alternative Investment Group. Prior to joining Wells Fargo, Rauchle was a director with Charles Schwab’s investment management and retirement divisions and headed U.S. Bank’s Qualivest mutual fund complex.

“With his experience in alternative investments and fund management, Dan is eminently qualified to provide leadership for the unique investment platform and strategies required for ultra-high-net-worth clients,” said Tim Leach, chief investment officer of wealth management’s asset management group.