U.S. Bancorp said this week that it will change its name from U.S. Bancorp Piper Jaffray Asset Management to U.S. Bancorp Asset Management following changes within the organization and the mergers of several companies.
Within the past year, U.S. Bancorp Asset Management merged the asset management businesses of U.S. Bank and Firstar Bank after the merger of those firms parent companies, Firstar Corporation and U.S. Bancorp in February of this year. Then, in September, U.S. Bancorp Asset Management got shareholder approval to merge U.S. Banks First American Funds with Firstar Funds. The combined family of products is now known as First American, and is comprised of 55 funds with more than $51 billion under management.
U.S. Bancorp Asset Management, which oversees $114 billion in assets, will not change its business model and will continue to serve institutional clients, including pension funds, labor unions and corporations.