U.S. Bank is ramping up the high-end tiers of its wealth management business in Seattle. The Minneapolis-based bank has added two new professionals to Ascent Private Capital Management, its wealth management business for the super wealthy, and hired a former Morgan Stanley Smith Barney officer for the Private Client Reserve business serving high-net-worth clients.

Joining Ascent are Lisa Simonson and Kato Wade. Simonson assumes the role of director of Financial Administration and will serve as chief family financial officer for Ascent’s ultra-high-net-worth clients with more than $25 million in investable assets. Simonson was previously a senior client analyst with Laird Norton Tyee in Seattle, Wash., acting as co-advisor for several families. She has more than 15 years of experience in private wealth management, business financial consulting and accounting for families and closely held businesses, according to U.S. Bank.

Wade joins Ascent as director of Client Experience. He will oversee and support the delivery of “high-quality services and unique solutions to help achieve the goals and expectations” of ultra-high-net-worth clients, the bank said in a statement.  Before joining Ascent, Wade served as assistant vice president and trust officer for The Private Client Reserve.

Both Simonson and Wade will be supported by a national wealth advisory team that provides wealth impact planning, financial administration and exceptional client experience in the Pacific Northwest, U.S. Bank said.

Joining The Private Client Reserve as vice president and senior portfolio manager is Jorgen Gustafson, a veteran of Morgan Stanley Smith Barney. Gustafson will provide the group’s high-net-worth clients—those with $1 million or more in investable assets—with integrated and customized investment services, the bank said. Before joining U.S. Bank, Gustafson held several roles with Morgan Stanley Smith Barney, most recently serving as second vice president and complex business development officer.

Minneapolis-based U.S. Bank is a subsidiary of U.S. Bancorp, a bank holding company that had $352 billion in assets as of September 30. Ascent Private Capital Management and The Private Client Reserve are part of U.S. Bank Wealth Management.

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