New $1 billion US Bank deal provides a boost for its Charlotte operations
U.S. Bank has agreed to acquire financial services firm BTIG in a deal valued at up to $1 billion, a move that will strengthen its Charlotte-based executive leadership and operations as well as significantly expand the bank’s capital markets capabilities.
The transaction is expected to close in the second quarter of this year, pending regulatory approvals, U.S. Bank parent company U.S. Bancorp said Tuesday. BTIG is a 21-year-old firm specializing in institutional trading, investment banking and research.
BTIG has more than 700 employees and operates from 20 cities in the U.S., as well as in Europe, Asia and Australia. U.S. Bank is based in Minneapolis.
The acquisition elevates Charlotte’s importance within the national bank’s structure. Stephen Philipson, vice chair and head of wealth, corporate, commercial and institutional banking at U.S. Bank, emphasized the local impact.
BTIG clients will gain access to U.S. Bank’s broader financial platform, including asset management, wealth management, and payment services, according to Tuesday’s announcement. The combined firm will leverage U.S. Bancorp’s capital markets business, which has been growing rapidly, generating about $1.4 billion in revenue as of Sept. 30.
U.S. Bank is adding BTIG as a strategic move to fill gaps in product areas and offer a more complete set of financial services to its big business customers, Philipson said in the company statement.
Following the acquisition, Anton LeRoy, who will remain CEO of BTIG, will report directly to Philipson, who is based in Charlotte. Steven Starker, BTIG co-founder and executive chairman, will continue his current role interacting with BTIG’s largest institutional and corporate clients, and driving business development across all departments.
US Bank expands in Charlotte
The deal comes as U.S. Bank has been expanding in the Charlotte area, where there are about 1,400 employees.
In August, U.S. Bank opened its seventh Charlotte-area branch at 1801 South Blvd. in South End. Another one, at 1640 Matthews Township Parkway in Matthews, is expected to be completed this year.
U.S. Bancorp operates with $695 billion in assets and 70,000 employees companywide.
This story was originally published January 14, 2026 at 5:08 AM.
