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U.S. Bancorp (USB) Enhances Global Fund Services Offerings

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Zacks Equity Research
·3 min read
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U.S. Bancorp USB has opened doors of its Luxembourg office, through which it will offer fund accounting and administration, domiciliation, depositary and custody-related services for Luxembourg-domiciled funds.

The office will be under the leadership of Didier Delvaux, who has more than 25 years of fund administration and custody experience. He joined the company last year as Luxembourg country head.

U.S. Bank Global Fund Services offers alternative investments, mutual funds and exchange-traded products. This unit, along with U.S. Bank’s corporate trust and custody teams, makes up the Investment Services division, which in total, holds more than $7.7 trillion in assets under custody and administration.

The company seeks to satisfy clients by providing customizable service offerings, state-of-the-art digital tools and exemplary client service.

"Clients are looking for expertise they can trust; they want a provider with a deep understanding of the industry, investments and their goals. Given the complexity and volatility of the current regulatory and market environment, it’s essential for clients to find a provider who is intimately familiar with local regulatory nuances.” said Delvaux.

He also added, "Our initial focus will be on private equity and private debt funds, where our capabilities are unparalleled in the market. We are making a long-term commitment to the Luxembourg market, as demonstrated by our brand-new office in the Kirchberg financial center."

Our Take

We believe U.S. Bancorp, with its solid business model, is well poised for growth. Also, the company remains focused on improving its overall performance by undertaking inorganic growth strategies. Efforts to be in line with the banking sector’s shift to digitization are impressive.

Shares of U.S. Bancorp have gained 34.4% compared with the industry’s growth of 19.2% over the past six months.

Currently, U.S. Bancorp carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Picks

Some better-ranked stocks in the finance space are Fifth Third Bancorp FITB, First Financial Bankshares, Inc. FFIN and Guaranty Bancshares Inc. GNTY. All these stocks flaunt a Zacks Rank #1 at present.

The Zacks Consensus Estimate for Fifth Third has been raised 16.6% for the current year in the past 30 days. The company’s share price has gained 46.9% in the past six months.

First Financial has witnessed 3% upward revision in earnings estimates for current year in the past 30 days. Its share price has risen 23.7% in the past six months.

Guaranty’s shares have gained 17.8% in six months’ time. Its earnings estimates for current year have moved up 8.5% in the past 30 days.

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U.S. Bancorp (USB) : Free Stock Analysis Report
 
Fifth Third Bancorp (FITB) : Free Stock Analysis Report
 
First Financial Bankshares, Inc. (FFIN) : Free Stock Analysis Report
 
Guaranty Bancshares Inc. (GNTY) : Free Stock Analysis Report
 
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