U.S. Bancorp (NYSE:USB) announced today that it has completed its acquisition of BTIG, LLC, effective June 1, 2026.

“Today, we welcome the talented BTIG team to U.S. Bancorp,” said Gunjan Kedia, chairman of the board and chief executive officer at U.S. Bancorp. “Our teams are energized to get started and begin working together, combining deep market expertise with the strength of our broader franchise to create more opportunities for the firms and institutions we serve.”

“We have been looking forward to this moment,” said Stephen Philipson, vice chair and head of Wealth, Corporate, Commercial and Institutional Banking at U.S. Bancorp. “BTIG adds highly complementary capabilities to our capital markets platform, strengthening our ability to serve corporate and institutional clients. Together, we are better positioned to meet a broader range of client needs and build on our strong capital markets momentum.”

Founded in 2005, BTIG specializes in investment banking, institutional sales and trading, research and prime brokerage. The business ranks among the top 10 U.S. brokers for high-touch equity volume and has participated in more than 1,350 announced investment banking transactions since 2015.

“Joining U.S. Bancorp marks an important next chapter for BTIG and our clients,” said Anton LeRoy, chief executive officer of BTIG. “We share a strong cultural alignment and long history of collaboration. This combination allows us to deepen client relationships while continuing to deliver the high-touch service our clients expect, supported by the scale and resources of a larger, diversified financial institution.”

LeRoy – a key architect of BTIG’s expansion since joining the firm in 2008 – will remain CEO of BTIG, reporting to Philipson. BTIG co-founder and Executive Chairman Steven Starker will report to LeRoy and continue his current day-to-day role of engaging and interacting with BTIG’s largest institutional and corporate clients and driving business development across all departments.

BTIG will continue to operate as a separate broker-dealer within U.S. Bancorp.