U.S. Bancorp announced the launch of its new Asset Backed Securitization Lending business, providing non-recourse commitments secured by consumer and commercial receivables. With this new capability, U.S. Bancorp leverages its direct corporate lending experience to provide clients with an additional credit product.

Bo Weatherly joined U.S. Bancorp in 2016 and will serve as managing director for the new business. Weatherly has more than 25 years' experience in financial services and is based in Charlotte, North Carolina. In anticipation of the product launch, Weatherly brought together a team of established industry experts, each with an average of 20 years of experience in the asset-backed securitization markets.

"We are continuously striving to provide our clients with a diverse array of options for borrowing and investing that can help power their potential," said Stephen Philipson, executive vice president and head of Fixed Income & Capital Markets at U.S. Bancorp. "Through the launch of our Asset Backed Securitization Lending business, clients are able to leverage U.S. Bancorp's strong balance sheet and the deep industry expertise of one of the world's most trusted financial partners."

The addition of an Asset Backed Securitization Lending team underscores the commitment that U.S. Bancorp has made to its Fixed Income & Capital Markets platform and to providing current and prospective clients with additional ways to access capital. This new product is another example of expanding offerings that make U.S. Bank central to the financial lives of its clients.

"Clients want alternatives when it comes to sources of capital," said Joseph Murphy, executive vice president and group head in Corporate Banking at U.S. Bancorp. "We see this as a great opportunity to provide more choice to our partners, while also expanding our capabilities in a way that aligns with our broader strategy of putting customers first."