U.S. Bancorp (NYSE: USB), parent company of U.S. Bank, the fifth largest
commercial bank in the United States, announced today that Andrew
Cecere, currently Vice Chairman and Chief Operating Officer (COO), has
been promoted to President. As President and Chief Operating Officer,
Cecere will continue his responsibilities for U.S. Bank’s core lines of
business: Consumer and Small Business Banking, Wholesale Banking and
Commercial Real Estate, Payment Services, and Wealth Management and
Securities Services. Cecere will continue to report to Richard Davis,
Chairman and Chief Executive Officer, U.S. Bank.
“Promoting Andy to President is a logical next step in his executive
progression,” Davis said. “He has demonstrated years of steady
leadership and has earned the confidence of the Board and the respect of
his colleagues. He has a 30-year track record of delivering outstanding
results. As Chief Operating Officer, he has excelled at implementing a
strategy that unifies the customer experience and makes U.S. Bank the
most trusted choice because of our strength and stability. The Board and
I have tremendous confidence in Andy and his ability to manage our
businesses effectively.”
Cecere has been with U.S. Bank since 1985. He has served as Vice
Chairman and COO since January 2015. Prior to that, he served as Vice
Chairman and Chief Financial Officer, and Vice Chairman of Wealth
Management and Securities Services. He received his MBA from the Carlson
School of Business at the University of Minnesota and his undergraduate
degree from the University of St. Thomas in St. Paul, Minn.
“I am intensely proud of U.S. Bank and its 67,000 hard-working and
dedicated people,” Cecere said. “I appreciate the vote of confidence
from Richard and the Board to be named President. We will continue to
create value for our shareholders, customers, employees, and communities
as we pursue our vision for the future together.”
About U.S. Bank
Minneapolis-based U.S. Bancorp (“USB”), with $422 billion in assets as
of December 31, 2015, is the parent company of U.S. Bank National
Association, the fifth largest commercial bank in the United States. The
Company operates 3,133 banking offices in 25 states and 4,936 ATMs and
provides a comprehensive line of banking, investment, mortgage, trust
and payment services products to consumers, businesses and institutions.
Visit U.S. Bancorp on the web at www.usbank.com.
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