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.

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