US Bank 2005 Annual Report Download - page 12

Download and view the complete annual report

Please find page 12 of the 2005 US Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 130

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130

PRIVATE CLIENT, TRUST AND ASSET MANAGEMENT:
Corporate trust and institutional
custody growth solidifies our leadership
u.s. bank is a recognized national leader
in the corporate trust and institutional
custody businesses — the largest trustee in the area of tax-exempt
debt, the second largest in the area of asset-backed and mortgage-backed securities,
the third largest in new corporate bond issuances, and the ninth-largest institutional
custody provider.
U.S. Bank recently solidified this top tier position with the acquisition of a major
corporate trust and institutional custody portfolio. As a result of the transaction,
which closed on December 30, 2005, U.S. Bank Corporate Trust Services acquired
approximately 14,100 new client issuances and $410 billion in assets under
administration, and U.S. Bank Institutional Trust & Custody acquired approximately
1,700 new clients and $570 billion in assets under administration.
This transaction strongly complements our existing corporate trust and
institutional custody businesses, making us more competitive by increasing our
scale and leveraging our existing capabilities and operational platforms. In addition
to serving the specialized needs of our corporate trust and institutional custody
customers, U.S. Bancorp continues to enhance our top-notch service delivery to
affluent individuals and families, professional service corporations and nonprofit
organizations through The Private Client Group. Acting as a bank within a bank,
The Private Client Group works to build, manage and preserve our customers’
wealth by providing expert planning, programs and advice.
KEY BUSINESS UNITS:
The Private Client Group
Corporate Trust Services
Institutional Trust & Custody
U.S. Bancorp Asset Management, Inc.
U.S. Bancorp Fund Services, LLC
10 U.S. BANCORP