U.S. Bank Promotes Andrew Cecere to Chief Operating Officer and Kathy Ashcraft Rogers to Chief Financial Officer
January 20 2015 - 1:03PM
Business Wire
U.S. Bank (NYSE: USB), the fifth largest bank in the United
States, announced today that Andrew Cecere, currently Vice Chairman
and Chief Financial Officer (CFO), has been promoted to Vice
Chairman and Chief Operating Officer (COO) and will be responsible
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, President, and
Chief Executive Officer, U.S. Bank.
“U.S. Bank believes in a comprehensive executive development
process to ensure that our leadership team has the breadth and
depth of experience required to execute on our plans to create
value for customers and shareholders,” said Davis. “Andy has
demonstrated tremendous leadership during his 30 years with U.S.
Bank and we are confident in his ability to manage our businesses
effectively and execute our customer-focused growth strategy. One
of U.S. Bank’s core strengths is our continuity of executive
leadership, which has been established through a carefully managed
and time-tested process. Moving Andy into the COO role is an
example of that thoughtful and deliberate process.”
Kathy Ashcraft Rogers, currently Executive Vice President,
Business Line Planning & Reporting, will succeed Cecere as Vice
Chairman and Chief Financial Officer. Rogers has been with U.S.
Bank for 28 years and has served in a variety of leadership roles
within the Finance organization. She will report to Davis and join
the Managing Committee, which consists of the 14 most senior
leaders at U.S. Bank.
Kate Quinn, Executive Vice President of Strategy and Corporate
Affairs, U.S. Bank, has also been promoted and will join the
Managing Committee and report to Davis.
“U.S. Bank creates value for its customers and shareholders by
developing and leveraging its internal executive talent, which is
highlighted by tenure, stability, and a commitment to preserving
U.S. Bank’s exceptional track record of financial performance,”
Davis said. “We are fortunate to have talented leaders, such as
Kathy and Kate, to promote from within and join our Managing
Committee. They will play critical roles as we execute on our
vision for the future of U.S. Bank.”
Cecere has been with U.S. Bank since 1985. He has served as Vice
Chairman and CFO since 2007. Prior to that, he served as Vice
Chairman of Wealth Management and Securities Services. He received
his MBA from the Carlson School of Business at the University of
Minnesota and a bachelor’s degree in business administration and
finance from the University of St. Thomas.
Rogers has been with U.S. Bank since 1987. Rogers has been
responsible for Business Line Planning & Reporting, including
the stress testing process for U.S. Bank with the Federal Reserve
Board, since 1998. She is a graduate of Ohio State University.
Quinn joined U.S. Bank in September 2013 and is responsible for
Strategy, Marketing, Government Relations, Customer Experience,
Analytics, Corporate Communications, Community Affairs, and the
U.S. Bank Foundation.
About U.S. Bank
U.S. Bancorp (NYSE: USB), with $391 billion in assets as of
September 30, 2014, is the parent company of U.S. Bank National
Association, the 5th largest commercial bank in the United States.
The Company operates 3,177 banking offices in 25 states and 5,026
ATMs and provides a comprehensive line of banking, brokerage,
insurance, investment, mortgage, trust and payment services
products to consumers, businesses and institutions. Visit U.S.
Bancorp on the web at usbank.com.
U.S. BankDana E. Ripley,
612-303-3167MediaorSean O’Connor,
612-303-0778Investors/Analysts
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