- U.S. Bank (USB, Financial) consolidates Global Fund Services and Global Corporate Trust into an Investment Services division.
- Jay Martin appointed as the head of the unified Investment Services division.
- U.S. Bank leads market share in Corporate Trust markets as of March 2025.
U.S. Bank (USB) has announced the strategic unification of its Global Fund Services and Global Corporate Trust teams into a new collective, Investment Services division. This reorganization is aimed at enhancing service delivery through a more interconnected approach under the leadership of Jay Martin, who has been with the bank since 2023.
Jay Martin brings to the table three decades of extensive experience in the financial services industry, with prior roles at Citco, Citi, SWIFT, and Bank of New York Mellon. As president of the Investment Services division, Martin will oversee the provision of customized services, including fund administration, custody, investor servicing, trustee services, and corporate escrow, to a diverse client base comprising middle market, large corporate, government, and institutional entities.
U.S. Bank continues to hold the number one market share in Corporate Trust markets, reinforcing a strong position as of the most recent data in March 2025. The bank's Fund Services business is also witnessing growth, driven by new capabilities designed to meet client needs. Stephen Philipson, vice chair of Wealth, Corporate, Commercial, and Institutional Banking, stated that the consolidation under a single leader will enable the bank to leverage its combined scale and investments for improved client service.
U.S. Bancorp, the parent company of U.S. Bank, boasts approximately 70,000 employees and $676 billion in assets as of March 31, 2025, and continues to expand its reach through a mix of consumer and institutional banking, payments, and wealth management services. The company operates from its headquarters in Minneapolis, serving a global customer base.
