U.S. Bancorp Launches Asset Backed Securitization Lending Business
January 24 2019 - 9:11AM
Business Wire
U.S. Bancorp announced today the launch of its new Asset Backed
Securitization Lending business, providing non-recourse commitments
secured by consumer and commercial receivables. With this new
capability, U.S. Bancorp leverages its direct corporate lending
experience to provide clients with an additional credit
product.
Bo Weatherly joined U.S. Bancorp in 2016 and will serve as
managing director for the new business. Weatherly has more than 25
years’ experience in financial services and is based in Charlotte,
North Carolina. In anticipation of the product launch, Weatherly
brought together a team of established industry experts, each with
an average of 20 years of experience in the asset-backed
securitization markets.
“We are continuously striving to provide our clients with a
diverse array of options for borrowing and investing that can help
power their potential,” said Stephen Philipson, executive vice
president and head of Fixed Income & Capital Markets at U.S.
Bancorp. “Through the launch of our Asset Backed Securitization
Lending business, clients are able to leverage U.S. Bancorp’s
strong balance sheet and the deep industry expertise of one of the
world’s most trusted financial partners.”
The addition of an Asset Backed Securitization Lending team
underscores the commitment that U.S. Bancorp has made to its Fixed
Income & Capital Markets platform and to providing current and
prospective clients with additional ways to access capital. This
new product is another example of expanding offerings that make
U.S. Bank central to the financial lives of its clients.
“Clients want alternatives when it comes to sources of capital,”
said Joseph Murphy, executive vice president and group head in
Corporate Banking at U.S. Bancorp. “We see this as a great
opportunity to provide more choice to our partners, while also
expanding our capabilities in a way that aligns with our broader
strategy of putting customers first.”
About U.S. Bancorp Fixed Income & Capital MarketsU.S.
Bancorp Fixed Income & Capital Markets is a leading provider of
bank and bond capital, interest rate and foreign exchange services
focused on helping clients meet their business and financial
objectives. The group started its growth trajectory in 2009 and has
achieved top 10 market share in many product areas including:
Investment Grade Debt Capital Markets #4 by number Lead and
Co-Managed client bond offerings; #10 by number of client bond
offerings U.S. Bancorp has Book-Managed. In Loan Capital Markets,
U.S. Bancorp is ranked #7 in Overall U.S. Bookrunner, #5 in
Investment Grade Bookrunner, and #5 in Investment Grade New Money
Bookrunner by deal count for 2018 (as reported by Thomson Reuters
LPC 2018 League Tables).
About U.S. BancorpU.S. Bancorp, with 74,000 employees
and $467 billion in assets as of December 31, 2018,
is the parent company of U.S. Bank, the fifth-largest
commercial bank in the United States.
The Minneapolis-based bank blends its relationship teams,
branches and ATM network with mobile and online tools that allow
customers to bank how, when and where they prefer. U.S.
Bank is committed to serving its millions of retail, business,
wealth management, payment, commercial and corporate, and
investment services customers across the country and around the
world as a trusted financial partner, a commitment recognized by
the Ethisphere Institute naming the bank a 2018
World’s Most Ethical Company. Visit U.S.
Bank at www.usbank.com or follow on social media to
stay up to date with company news.
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version on businesswire.com: https://www.businesswire.com/news/home/20190124005448/en/
U.S. Bank Public Affairs & CommunicationsElizabeth Parra,
415-464-8521elizabeth.parra@usbank.com@usbank_news
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