U.S. Bancorp Promotes Andrew Cecere to President
January 19 2016 - 1:20PM
Business Wire
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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U.S. BancorpDana E. Ripley, 612-303-3167MediaorSean O’Connor,
612-303-0778Investors/Analysts
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