Leadership Team

The experienced executives of U.S. Bancorp Asset Management provide the leadership to foster success for our clients and our firm.

Eric Thole

Eric Thole

Chief Executive Officer
27 years of financial industry experience

Eric serves as Chief Executive Officer and President of U.S. Bancorp Asset Management and President of First American Funds. Prior to his appointment in June 2014, Eric served as Chief Operating Officer and Vice President of the First American Funds. Since joining the firm in 1997, Eric's focus has been investment operations, technology, fund treasury, securities lending administration and accounting/vendor management.

James Palmer, CFA

James Palmer, CFA

Chief Investment Officer
34 years of financial industry experience

Jim is responsible for U.S. Bancorp Asset Management's investment process. In his role, Jim oversees portfolio management, fixed income trading and credit research for all of the firm's strategies. In addition to his investment management responsibilities, Jim is active in both serving current client relationships and new business development.

Ruth Mayr

Ruth Mayr

Chief Compliance Officer
35 years of financial industry experience

Ruth is responsible for the design, implementation and continual reassessment of the adequacy and effectiveness of compliance programs for U.S. Bancorp Asset Management and First American Funds. Ruth oversees the regulatory compliance programs for mutual funds and institutional clients.

Kevin Breen

Kevin Breen

Head of Distribution and Strategy
24 years of financial industry experience

Kevin leads the business development and strategy efforts for U.S. Bancorp Asset Management and First American Funds. He is responsible for overseeing sales, marketing, client services, communications and product development.

Kenneth Delecki

Kenneth Delecki

Head of Securities Lending
32 years of financial industry experience

Ken is responsible for the securities lending product at U.S. Bank overseeing trading, cash collateral management and client services.

Rick Ertel

Rick Ertel

General Counsel
30 years of financial industry experience

Rick is responsible for overseeing all legal issues involving U.S. Bancorp Asset Management and First American Funds. Rick was appointed General Counsel to U.S. Bancorp Asset Management and Secretary to First American Funds in January 2011.

Jill Stevenson

Jill Stevenson

Head of Operations and Fund Treasury
35 years of financial industry experience

Jill is responsible for overseeing investment operations, fund treasury, securities lending administration and accounting/vendor management. She serves as Treasurer of the First American Funds.

Lisa Isaacson

Lisa Isaacson

Managing Director, Strategic Initiatives
23 years of financial industry experience

Lisa is responsible for directing the planning and execution of the firm’s strategic growth initiatives. 

Kyle Rulau

Kyle Rulau

Senior Business Line Risk Manager
31 years of financial industry experience

Kyle is responsible for managing risk for U.S. Bancorp Asset Management and First American Funds. He helps facilitate, identify and assess investment and operational risk for the organization which includes oversight of the firm's third party risk management, Anti-Money Laundering, business continuity and disaster recovery processes.

Torie Wise

Torie Wise

Head of Business Solutions
14 years of financial industry experience

Torie is responsible for all of the firm's technology resources and efforts including software development, infrastructure and application support, project management and quality assurance.