U.S. Bancorp Asset Management has hired two portfolio managers from M&I Investment Corp.'s Marshall Funds in Milwaukee to manage its First American Small Cap Growth Opportunities Fund and also promoted a technology analyst to run its First American Small Cap Select Fund.

The subsidiary of U.S. Bancorp in Minneapolis installed Sean McLeod as lead manager of the growth opportunities fund, which had $509 million of assets under management at March 31, and Robert McDougall as its co-manager. The team succeed Joe Frohna and Brian Bies, who left the company in March.

McLeod was the portfolio manager of Marshall Funds' Small Cap Growth Fund, and McDougall was its co-manager and a senior equity analyst.

The U.S. Bancorp unit also said that Allen Steinkopf had been named lead manager of its small-cap select portfolio, which had more than $1.1 billion of assets under management at March 31. He succeeds John Potter, who left the company in March.

Steinkopf has been a technology analyst at the asset management unit since 2003 and previously co-managed the small-cap growth portfolio at Advantus Capital Management.


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