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 24 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 31 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 32 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 National Sales 32 years of experience

Lou oversees the sales efforts, as well as being involved in client services, marketing and communications for U.S. Bancorp Asset Management and First American Funds.

Kenneth Delecki Head of Securities Lending 29 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 27 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 26 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.

Kevin Breen Head of Strategy and Business Development 22 years of experience

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