Minneapolis, MN-based US Bank has hired Lisa Simonson and Kato Wade as director of financial administration and director of private client experience, respectively, for Ascent Private Capital Management, the firm's wealth management unit that caters for clients with at least $25 million in assets.

Simonson will work with ultra high net worth Ascent clients as their chief family financial officer, providing planning and financial administration services. She will be supported by an advisory team focused on wealth impact planning, financial administration and client experience.

Simonson has 15 years of experience in private wealth management, business financial consulting and accounting for families and closely-held businesses. Prior to joining Ascent, she served as a senior client analyst at Laird Norton Tyee in Seattle, WA.   

Meanwhile, as director of private client experience, Wade will oversee the delivery of services and solutions to UHNW clients. She will also be supported by an advisory team focused on wealth impact planning, financial administration and client experience. Before joining Ascent, she served as assistant vice president and trust officer for the Private Client Reserve unit of US Bank, which targets high net worth clients with over $1 million in investable assets.

In a separate move, the bank has also named Jorgen Gustafson as vice president and senior portfolio manager at the Private Client Reserve - a role in which he will provide clients with integrated and customised investment services. Gustafson previously held several roles at Morgan Stanley Smith Barney (now Morgan Stanley Wealth Management), most recently as second vice president and complex business development officer, responsible for revenue generation, practice management and oversight of financial advisors.

These appointments follow a raft of other hires at US Bank. At the end of October, it named Seattle, WA-based Lance Losey and Mary Welk as managing director of wealth strategy and managing director of client advisory, respectively, for Ascent. In a separate move, Ed Cowling was hired as director of specialty asset management - a new position within US Bank Wealth Management in which Cowling reports to Tim Leach, chief investment officer.

Also in October, Michael Millman was appointed as senior vice president/wealth management advisor at the Private Client Reserve while Joe Weidenbach was brought in as Chicago, IL, market leader.