U.S. Bank Announces Retirement of Banking Veteran, Vice Chairman John Elmore
September 05 2018 - 11:13AM
Business Wire
U.S. Bank will combine Community Banking &
Branch Delivery and Consumer Banking Sales & Support
organizations
U.S. Bank also announces new,
enterprise-focused Chief Digital Officer role that will report to
the CEO
U.S. Bank announced today that John Elmore, vice chairman,
Community Banking & Branch Delivery, will retire from the
company in March 2019. Elmore, 62, is a 38-year veteran of the
banking industry who has been with U.S. Bank for the majority of
his career.
“John is an exceptional leader who will leave behind a
distinguished legacy of professional achievement and personal
integrity,” said Andy Cecere, chairman, president and CEO, U.S.
Bank. “Over the years, John has touched the lives of thousands of
employees and customers with his passion for banking, his
dedication to serving others and his gift for mentorship. We wish
him the very best in his retirement.”
As a result of Elmore’s retirement, U.S. Bank will combine its
Community Banking & Branch Delivery and Consumer Banking Sales
& Support organizations. Tim Welsh, vice chairman, Consumer
Banking Sales & Support, will lead the new organization, which
will be called Consumer & Business Banking. Elmore and Welsh
will work closely together over the next six months to ensure a
seamless transition.
“John’s departure provides us with an opportunity to rethink our
retail banking organization and to create the best possible
structure that aligns with our vision for the future,” Cecere said.
“The banking industry is in a period of dynamic change and it is
important for U.S. Bank to continue evolving. This simplified
structure will allow us to operate more effectively and
efficiently, particularly at a time when innovation and speed to
market is essential. Tim is an outstanding leader with a strong
customer focus, and he is helping us make great strides in our
evolution.”
The company also announced today that it has created a new role
focused on leading the company’s digital strategy across the entire
enterprise. The Chief Digital Officer (CDO) role was created to
establish U.S. Bank’s leadership position even more strongly for
the digital age.
Cecere added: “In order for us to truly become a digital-first
bank with a One U.S. Bank perspective, we need to make sure our
processes, capabilities, technologies, talent and
innovation-formula are optimal. The Chief Digital Officer role is a
key step forward in our vision for the future.”
A search is underway for the Chief Digital Officer role, which
will be a member of the Managing Committee and report directly to
Cecere.
About U.S. Bank
U.S. Bancorp (NYSE: USB), with 74,000 employees and $461 billion
in assets as of June 30, 2018, is the parent company of U.S. Bank,
the fifth-largest commercial bank in the United States. The
Minneapolis-based bank blends its relationship teams, branches and
ATM network with mobile and online tools that allow customers to
bank how, when and where they prefer. U.S. Bank is committed to
serving its millions of retail, business, wealth management,
payment, commercial and corporate, and investment services
customers across the country and around the world as a trusted
financial partner, a commitment recognized by the Ethisphere
Institute naming the bank a 2018 World’s Most Ethical Company.
Visit U.S. Bank online or follow on social media to stay up to date
with company news.
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U.S. BankMedia:Dana E. Ripley,
612-303-3167orInvestors/Analysts:Jen Thompson, 612-303-0778
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