The Private Client Reserve, a unit of US Bank which targets clients with at least $1 million in investible assets, has made a raft of hires in Minneapolis, MN, and Phoenix, AZ.  

In Minneapolis, Jeff Schell has been appointed as a trust officer, while Sam Somuri and Steve Kheller start as senior portfolio manager and wealth management advisor respectively.

Schell will work with high net worth individuals, families and charitable organizations in providing trust administration services. He previously served as the personal trust relationship manager within US Bancorp’s private client group and worked for Wells Fargo as a trust and estate administrator before that.

Somuri will develop investment portfolios for HNW individuals and institutions. He has over 20 years of industry experience in the areas of investment management, sales, relationship management and marketing.

Rounding off the Phoenix hires, Kelleher will provide clients with integrated and customized investment services. He has over 13 years of investment experience, having previously served as a senior vice president and private client manager at US Trust, Bank of America Private Wealth Management.

Meanwhile, in Phoenix, Tim Hoekstra joins as a wealth management advisor. He has over 21 years of experience in the financial services industry and is latterly of JP Morgan, where he served as a vice president and business manager in Scottsdale, AZ.

Other recent Minneapolis-based hires at US Bank's PCR were that of Paul Springmeyer, a senior portfolio manager, and John Ostrand, a trust officer, last month (view here).