U.S. Bancorp expects significant long-term growth from its wealth management business over the next three to five years as it looks to reap the benefits from an aggressive four-year strategy to transform the business.

“In a broader context, we expect wealth management to be a faster-growing piece of the total bank, and if you look at segmentation, the ultra-high-net-worth space is the fastest-growing segment in wealth management,” said Mark Jordahl, president of U.S. Bank Wealth Management.

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