Industry - Career Moves

U.S. Bank Names West Region President for Its HNW Wealth Biz

by: Margarida Correia

Tuesday, October 2, 2012

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Minneapolis-based U.S. Bank has snagged Mary Martuscelli from J.P. Morgan Chase to serve as West Region president for The Private Client Reserve, the bank's high-net-worth wealth management business. Martuscelli will be responsible for growing and managing all aspects of the business in Washington, Oregon, California, Arizona, Nevada, Utah and Colorado, the bank said in a statement.

Martuscelli is based in the bank's Phoenix office and reports to Michael Boardman, president of The Private Client Reserve. The position she assumes was vacated in June, the bank said in an e-mail. 

The 33-year veteran of J.P. Morgan Chase held many leadership roles, including that of Arizona President, a position Martuscelli held since 2007.  She was also managing director of Private Banking for JPM's Desert Mountain states. Prior to these roles, Martuscelli served as president and CEO of the Specialized Industries Segment of JPM's Commercial Bank, which focused on government, not-for-profit, healthcare, Native American, and financial institutions.

"Mary has a level of leadership, experience and passion that we need to lead our team of wealth management professionals in the west region," Boardman said in a statement.

U.S. Bank is a subsidiary of U.S Bancorp, a bank holding company that had $353 billion in assets as of June 30. The Private Client Reserve is part of U.S. Bank's Wealth Management Group.