Raft Of Senior Hires At US Bank's Ascent

Eliane Chavagnon

29 October 2012

Minneapolis, MN-based US Bank has named Lance Losey and Mary Welk as managing director of wealth strategy and managing director of client advisory, respectively, for Ascent Private Capital Management, the bank’s wealth management unit which caters for clients with at least $25 million in assets.

Both roles are based in Seattle, WA.

Losey will provide multi-generational planning, family governance and trust and fiduciary advisory services to Ascent's ultra high net worth clients. He will be supported by an advisory team focused on wealth impact planning, financial administration and client experience.

Before joining Ascent, Losey served as partner and chairman of an estate planning and probate practice group at a Seattle law firm.

Meanwhile, Welk will serve as the primary point of contact for Ascent clients, while also co-ordinating a team of professionals who serve these clients. She has over 25 years of experience assisting UHNW families and joined US Bank in 2010 as the managing director of trust, going on to serve as managing director and wealth management advisor. Prior to joining US Bank, the firm said she served as chief executive of a large family office.

In a separate move, US Bank has appointed Ed Cowling as director of specialty asset management - a new position within US Bank Wealth Management in which Cowling reports to Tim Leach, chief investment officer.

Cowling will have responsibility for all specialty asset management functions within US Bank's wealth unit, including real estate management, farm and ranch management, closely-held company interests, oil, gas and mineral interests, loan asset management, and specialty asset management administration.

Cowling joins US Bank from Bank of America, where he was national manager of real estate for Bank of America’s wealth management business. He started his career at BofA in farm and ranch management and then took on roles in urban real estate management, becoming head of real estate in 2005.