New Distribution Chief for Unit of U.S. Bancorp

U.S. Bancorp Asset Management has named Jim Greenawalt, a senior consultant to the company for nine months, to head distribution.

Greenawalt is to direct distribution for both the company's institutional advisory group and its mutual fund arm, First American Funds. He also will join U.S. Bancorp Asset Management's operating committee.

The appointment came as the subsidiary of U.S. Bancorp in Minneapolis tries to expand distribution of its First American funds through third parties, including wirehouses, regional brokerage firms and financial advisory firms. It also is trying to increase its asset management heft in the institutional marketplace.

Greenawalt previously directed distribution at Calamos Investments in Chicago and is a former chief operating officer and president of Scudder Kemper Investments.

U.S. Bancorp Asset Management, which had $122.3 billion of assets under management at June 30, is a national investment company that is the registered investment advisor to First American Funds, which had $52.6 billion under management at June 30.