U.S. Bank has appointed Stephen Jeselson as head of its newly-created private capital and global asset management division.
The division consolidates existing private capital client services, and provides fund finance, foreign exchange, treasury management, depositary services, capital markets solutions and trustee capabilities.
The bank aims to streamline and expand its offering in this space, particularly given increased assets under management in private capital funds over recent years.
Jeselson has more than 25 years of industry experience, and has been with U.S. Bank since 2019 as managing director of the sponsor finance group.
Prior to this, he was managing director and head of origination for acquisition finance and the financial sponsor coverage group at Mizuho.
Gunjan Kedia, vice chair of wealth, corporate, commercial and institutional banking at U.S. Bank, says: “With a proven service model designed for the complexities of managing these funds, we have developed deep relationships with many of the leading private capital asset managers.
The new division will create the focus and resources necessary to give our growing number of private capital clients access to the financial services and expertise they need.”
