David H. Lui, formerly Franklin Advisors' chief compliance officer, has joined U.S. Bancorp Asset Management for a similar position.

Lui replaces Doug Paul, who was hired on an interim basis last year. Lui will report to Charles Manzoni, U.S. Bancorp's general counsel, as well as Virginia Stringer, who is the chairman of U.S. Bancorp's First American Funds board. He will also manage a compliance staff of 17 employees.

A Franklin Resources spokeswoman said the company has not yet announced a replacement for Liu. Franklin has several chief compliance officers for different units within Franklin Resources, added the spokesman.  

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