US Bank completed the acquisition of PFM Asset Management from PFM.

US Bancorp Asset Management, a registered investment adviser and subsidiary of US Bank, completed the acquisition of PFM Asset Management from PFM. Financial terms are not disclosed. “We’re thrilled to welcome PFM Asset Management to US Bank. Long known for its presence in the public sector, PFM Asset Management offers its clients a variety of product offerings, including local government investment pools, outsourced chief investment officer services and separately managed accounts in both fixed income and multi-asset class strategies, complementing our current book of business. This acquisition bolsters US Bank’s institutional asset management presence nationally, and we look forward to growing US Bank’s thriving investment solutions business with our new partners," Eric Thole, US Bancorp Asset Management Head.