US Bank, a subsidiary of US Bancorp, has selected Smartleaf to provide a unified overlay platform for its non-brokerage wealth management investment relationships managed through The Private Client Reserve and Private Client Group.

Smartleaf said that its platform will enable US Bank portfolio managers to manage over 40,000 client portfolios.

Through Smartleaf system, US Bank will manage portfolios that combine individual equities, individual fixed income securities, mutual funds, ETFs, structured notes and other securities in a single portfolio that benefits from both proprietary and third-party research/models.

Smartleaf has provided overlay solutions for US Bank’s non-brokerage Unified Managed Account (UMA) program since 2007.

US Bank Wealth Management Group chief investment officer Tim Leach said that portfolio managers using the Smartleaf system are excited to take further advantage of Smartleaf by making it the common platform for the bank’s non-brokerage investment management portfolios.