Richard Davis was named president and COO at U.S. Bancorp. He will oversee U.S. Bancorp Asset Management, which provides investment services to institutional and high-net-worth clients. Mr. Davis was vice chairman of the bank's consumer banking and payment services division. He will continue to oversee the consumer and commercial banking units and will continue to report to Jerry Grundhofer, CEO.
Christopher R. Walsh was named managing director, subadvisory and retirement, at Phoenix Investment Partners, said Nicole Laudenslager, spokeswoman. The position is new. Mr. Walsh was a senior vice president with CDC IXIS Asset Management. A CDC IXIS spokeswoman declined to discuss Mr. Walsh's departure or plans for his replacement, citing company policy.
Werner Vetsch was named senior vice president of operations and technology for Northern Trust's U.S. investment operations outsourcing business, a new position. He will manage all operations and technology for the outsourcing business, which currently supports investment managers with a combined $550 billion in assets under management. Mr. Vetsch was senior vice president of Northern Trust's investment management liaison group, responsible for relationships with institutional investment managers. He was replaced by David Grybas, who was a member of the investment management liaison group at Northern Trust.