John C. Stern named president of U.S. Bank Global Corporate Trust and Custody
April 08 2021 - 9:00AM
Business Wire
U.S. Bank today announced that John C. Stern has been named
president of its Global Corporate Trust and Custody business within
U.S. Bank Wealth Management and Investment Services. Stern, who
currently serves as U.S. Bancorp Corporate Treasurer, will assume
his role effective May 17, 2021.
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John Stern, U.S. Bank (Photo: Business
Wire)
Stern is a 20-year veteran of U.S. Bank, and has steadily risen
through the ranks in Corporate Treasury while building a record of
leadership and success. He currently leads the team that executes
all of U.S. Bank’s treasury functions, including liquidity,
capital, interest rate risk, investment portfolio, derivatives,
wholesale debt issuance, operations, internal funds transfer
pricing, net interest income forecasting and quantitative balance
sheet and capital markets modeling. Stern is a graduate of the
University of St. Thomas and the University of Minnesota and is
active with the Alzheimer’s Association.
“As corporate treasurer, John has helped strengthen our
reputation and solidify our position as one of the highest-rated
financial services companies in the world,” said Gunjan Kedia, vice
chair of U.S. Bank Wealth Management and Investment Services. “He
brings extraordinary intelligence, judgment and acumen to this role
through his extensive knowledge of the financial services industry
and insights into global capital markets. John’s background gives
him a deep understanding of our clients’ needs and products and
services in the corporate trust and custody market. John is a
relatable and empathetic leader who builds and develops strong
teams and epitomizes the values of U.S. Bank. I am thrilled he is
joining our team.”
Stern is succeeding Joseph Giordano as president of Global
Corporate Trust and Custody. Giordano announced his plans to retire
this summer. Giordano has been with U.S. Bank since 2010 and has
played a critical role in building and growing the industry-leading
global corporate trust business, including the expansion of the
company’s CDO business.
“Under Joe’s leadership, our Corporate Trust business grew
rapidly, gained impressive market shares, executed multiple
acquisitions, and became a leader in this industry,” said Kedia.
“As Joe delivered these business results, he also developed an
outstanding team and a culture of sales and service excellence. We
thank Joe for his enormous contributions to the business and wish
him all the best in his retirement,” Kedia said.
About U.S. Bank Global Corporate Trust and Custody
U.S. Bank Global Corporate Trust and Custody is a leading
provider of corporate trust and custody services in the United
States and Europe, serving private and public companies, government
and tax-exempt entities and financial institutions. This business
operates a network of offices across the U.S. and Europe and is
part of U.S. Bank Wealth Management and Investment Services, which
holds more than $8.2 trillion in assets under custody and
administration, and $239 billion in assets under management (as of
12/31/20).
About U.S. Bank
U.S. Bancorp, with nearly 70,000 employees and $554 billion in
assets as of Dec. 31, 2020, is the parent company of U.S. Bank
National Association, 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 one of the 2020 World’s Most
Ethical Companies. Visit U.S. Bank at www.usbank.com or follow on
social media to stay up to date with company news.
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version on businesswire.com: https://www.businesswire.com/news/home/20210408005198/en/
Leslie Ingberg, U.S. Bank Public Affairs and Communications
leslie.ingberg@usbank.com 612.303.2374
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