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 Chief Executive Officer 23 years of 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 Chief Investment Officer 30 years of 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 Chief Compliance Officer 31 years of 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.

Louis Martine Head of Distribution 31 years of experience

Lou leads the distribution 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 Head of Securities Lending 28 years of experience

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

Rick Ertel General Counsel 26 years of 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 Head of Operations and Fund Treasury 32 years of 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.

Tom Hansen Head of Technology 25 years of experience

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

Shannon Kohout Senior Business Unit Risk Manager 21 years of experience

Shannon is responsible for managing risk for U.S. Bancorp Asset Management and First American Funds. She 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.