Shailesh Kotwal Hired as Vice Chairman, Payment Services for U.S. Bank; Kotwal Will Succeed Pamela Joseph Following Her Plan...
February 27 2015 - 9:25AM
Business Wire
U.S. Bank (NYSE: USB), the fifth largest commercial bank in the
United States, announced today that Shailesh Kotwal has been hired
as vice chairman, Payment Services, U.S. Bank. He will join U.S.
Bank at the end of the first quarter and will report to Andy
Cecere, vice chairman and chief operating officer, U.S. Bank.
Kotwal will succeed Pamela Joseph, currently vice chairman,
Payment Services, who plans to retire from U.S. Bank in mid-2015.
Joseph has been with U.S. Bank for more than 10 years. Kotwal has
more than 25 years of experience in the Payments industry.
“We congratulate Pam on a tremendous career at U.S. Bank and for
propelling us into a strong leadership position in the Payment
Services marketplace,” said Richard K. Davis, chairman, president,
and chief executive officer, U.S. Bank. “One of Pam’s most
significant and lasting contributions to U.S. Bank is the strong
leadership team she has established across her global organization,
which will allow us to continue expanding our presence in the
Payments market. For now, it is business as usual as we work toward
a seamless leadership transition to Shailesh in the weeks
ahead.”
“I have treasured my years with U.S. Bank and have the utmost
confidence in Shailesh, and the entire Payment Services’ leadership
team, to continue creating exceptional value for all of our
customers,” Joseph said. “I am excited to begin this next phase of
my journey and wish all my colleagues the very best in the years
ahead.”
Kotwal has an extensive background in the payments industry
having spent years in executive leadership roles with TD Bank,
Fidelity National Information Services (eFunds), and American
Express establishing a track record for financial performance
combined with innovation and business development. He holds a
Bachelor’s Degree in Commerce from Bombay University and is a
Chartered Accountant. Kotwal will join U.S. Bank’s Managing
Committee.
“We are very pleased to have someone of Shailesh’s caliber
joining the U.S. Bank management team to lead our Payments
organization through its next phase of growth and expansion,”
Cecere said. “The Payments industry is rapidly evolving and it is
one of our strongest and fastest growing business lines. Shailesh
will complement the solid global leadership team that we have in
place as we continue our commitment to helping our payments
customers manage their financial futures.”
Kotwal added: “U.S. Bank has a dominant presence in the Payments
business. It is truly a privilege to join this outstanding
franchise with such an impressive performance and a very promising
future. I look forward to joining the team and helping deliver
safe, secure, and innovative payment solutions for our retail,
corporate, and merchant customers across the globe.”
About U.S. Bank
U.S. Bancorp (NYSE: USB) with $403 billion in assets as of
December 31, 2014, is the parent company of U.S. Bank National
Association, the 5th largest commercial bank in the United States.
The Company operates 3,176 banking offices in 25 states and 5,022
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. BancorpDana E. Ripley, 612-303-3167Corporate
CommunicationsorSean O’Connor, 612-303-0778Investor Relations
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