U.S. Bancorp's private-client group has started a nonproprietary separately managed account platform in an effort to bolster the options available to its customers.

Londa Dewey, the president of the Minneapolis banking company's private-client group, said it has offered proprietary managed accounts through its FAF Advisors unit for years but that growing customer demand for open architecture products had made introducing the nonproprietary platform a top priority.

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