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Big Move to U.S. Bank for Bertha

The former investment banker will take over as market president for Milwaukee.
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U.S. Bancorp

(USB) - Get U.S. Bancorp Report

named Bill Bertha market president of its Milwaukee bank.

The Minneapolis-based financial services firm, which operates under the U.S. Bank name, said Bertha will oversee commercial lending activities in Milwaukee and Madison, Wis. Bertha will also coordinate activities for all lines of business including consumer banking, corporate banking, corporate real estate, private banking and trust in Milwaukee.

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He most recently was president of Strategic Advisors LLC, an investment banking boutique he founded in Chicago four years ago to advise on acquisitions, funding alternatives, growth strategies and private equity investment.

Thomas V. Richtman, who has served as interim market president, will continue in his position as manager of the commercial banking group in Milwaukee.

"Attracting an individual of Bill's caliber to join our outstanding team in Milwaukee was critical especially as it relates to continuing to grow our middle market business," said Joseph M. Otting, vice chairman of the commercial and real estate industries group of U.S. Bancorp.

"Bill is a hometown guy and brings an impressive amount of knowledge and experience in the financial services arena to our organization. He understands the financial needs of local businesses and retail customers in the market and is committed to taking our Five Star Customer Service Guarantee to the next level."

On Tuesday, U.S. Bancorp shares dropped 28 cents to $30.10.