U.S. Bank has nabbed a former Deutsche Bank executive to lead global sales for the corporate trust and institutional trust services division.
Kevin Weeks is based in New York and will oversee a team of corporate trust and custody development professionals in the United States and Europe, U.S. Bank said in an announcement this week.
While at Deutsche Bank, Weeks served in a variety of roles, including head of Issuer Services and global head of sales for Institutional Cash and Securities Services. He was with Deutsche Bank for 15 years.
"Kevin is an experienced leader in the securities services industry with a tremendous understanding and appreciation for this complex business and what clients need today to be successful," Joseph Giordano, president of U.S. Bank Global Corporate Trust Services, said in a statement.
The corporate and institutional trust services division provides corporate trust and custody services in the U.S. and Europe, U.S. Bank said.
The bank generated $216 million in revenue from corporate trust services in the first quarter, up 34% year-over-year, according to its latest earnings release. Institutional trust and custody services brought in $52 million, up 11% from $47 million in the same quarter the year before.
Both corporate and institutional trust services are
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The bank sees the greatest growth coming from its own customer base, particularly the emerging affluent.
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"If there are opportunities that present themselves, we will take a look," said U.S. Bank CEO Andy Cecere.
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First-quarter profits jumped almost 40% on $577 million in revenue.
April 19
