In their new roles Cole, formerly with Wells Fargo, and Boardman, currently central region president for the Private Client Reserve, will be working along side Mark Jordahl, president of the US Bank Wealth Management Group, the firm said in a statement.

Previously, Cole held senior wealth management positions at Wells Fargo and Merrill Lynch. Most recently he was executive vice president and national director of the Family Wealth Group and Wealth Planning Center at Wells Fargo.

Prior to joining US Bank in 2008, Boardman held senior wealth management positions at US Trust, Charles Schwab & Co and JP Morgan Chase.

The ultra high net worth business provides wealth management advice and strategies to individuals and families with $25 million or more in investable assets; the Private Client Reserve business serves individuals and families with over $1 million in investable assets.

In other recent hires, earlier this month Benjamin Sawyer was appointed as a wealth management advisor within the bank's Private Client Reserve unit.

US Bancorp, the parent company of US Bank, had $282 billion in assets as of 31 March 2010.