JPMorgan Chase (JPM) has named former U.S. Bancorp executive Michael Boardman as the head of its wealth management business.

Boardman joins Chase Wealth Management from U.S. Bank Private Client Reserve, where he had served as president since 2010, JPMorgan said Monday. Boardman left U.S. Bancorp (USB) last week and was succeeded by Mike Ott.

With 25 years of experience in wealth management, Boardman has also served as head of the Midwest region at U.S. Trust and as vice president in business strategy at Charles Schwab. He replaces Barry Sommers, who was promoted to lead JPMorgan's consumer banking division in May.

"We couldn't be more excited to have someone of [Boardman]'s caliber join our team," Sommers said in a press release. "[Boardman] is an A-player and can build on the terrific success we've had at Chase Wealth Management."

Chase Wealth Management manages $179 billion of assets and has more than 3,000 advisors.

Sarah Todd is a reporter for American Banker.

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