US Bank has hired Eric Stern as managing director of private banking for Ascent Private Capital Management, the firm’s ultra high net worth business, in San Francisco, CA.

Stern will be supported by a national advisory team that provides wealth impact planning and financial administration in the Bay Area. He joins from Morgan Stanley Private Bank, where as vice president he worked with individuals and businesses. Before that, he helped launch the private bank lending solutions at Bank of America Merrill Lynch.

Meanwhile, US Bank has also strengthened its high net worth business in the Twin Cities - the Private Client Reserve - promoting Lou Gomez and Mark Moeller to director of sales and investment team lead respectively. Gomez and Moeller will report to Mike Ott, central region president of the PCR.

Gomez, with over 27 years of industry experience, will lead a team working across the Twin Cities market to establish connections among prospective and existing clients. Before joining the PCR, Gomez launched and ran the wealth management business for Associated Bank in the Twin Cities. He also has experience working with small- to mid-sized businesses and entrepreneurs as a commercial banker at JP Morgan.

Moeller will serve as the local investment practice leader and lead professionals in developing and implementing investment portfolios for HNW individuals and institutions. He has over 20 years of professional experience, the firm said, having served as an investment consultant for institutions including foundations, endowments and pension plan. 

In related news, last week Steven Hobbs was hired as a senior portfolio manager in Minneapolis, MN.