U.S. Bank Names Jimmy Whang Head of Commercial Products
June 28 2023 - 11:30AM
Business Wire
Whang to lead fixed income, capital markets
and working capital finance businesses
U.S. Bank today announced that Jimmy Whang has
been named the head of its Commercial Products group, effective
June 30. In this role, Whang will lead Fixed Income and Capital
Markets (Capital Markets and Sponsor Finance; Credit Fixed Income;
Structured Credit; Derivatives; Foreign Exchange; Municipal
Products; and ESG strategies) and Working Capital Finance (Asset
Based Finance; Global Trade and Supply Chain Finance).
“Jimmy has an exceptional track record of anticipating needs and
partnering with our clients – corporate and midsize, sponsors,
government and not-for-profit – on finance solutions that help them
succeed,” said Stephen Philipson, head of Global Markets and
Specialized Finance. “With Jimmy’s leadership and focus on
delivering best-in-class products and expertise to our clients,
we’ll continue to grow this important business, which now ranks
among the top banks in bond and loan underwriting, as well as
interest rate and currency hedging for corporations.”
Whang, who joined U.S. Bank in 2009 and helped it become one of
the top originators of investment-grade bonds, most recently served
as head of Credit Fixed Income, Municipal Products, and Structured
Credit. In this role, he oversaw the bank's corporate and municipal
bond origination, sales, and trading activities. Additionally, he
was responsible for structured credit products, including asset
backed securities, collateralized loan obligations, and
subscription finance. Before joining U.S. Bank, Whang had senior
roles at top financial institutions in both New York and Charlotte.
Today, he is based in Charlotte, where U.S. Bank has a significant
presence.
Whang replaces Stephen Philipson, who was recently promoted to a
new role overseeing Global Markets and Specialized Finance (GMSF).
In addition, Philipson was elevated to the U.S. Bank Managing
Committee, its senior-most leadership group. GMSF includes the
following businesses: Commercial Products, Global Corporate Trust
and Custody, U.S. Bank Equipment Finance, and U.S. Bancorp Asset
Management.
GMSF is part of U.S. Bank’s Wealth, Corporate, Commercial and
Institutional Banking (WCIB) organization. One of the core business
lines at U.S. Bank, WCIB also includes Commercial Banking,
Commercial Real Estate, Corporate Banking, Global Fund Services,
and Wealth Management. The business line is led by U.S. Bank Vice
Chair Gunjan Kedia.
About U.S. Bank
U.S. Bancorp, with approximately 77,000 employees and $682
billion in assets as of March 31, 2023, is the parent company of
U.S. Bank National Association. The Minneapolis-based company
serves millions of customers locally, nationally and globally
through a diversified mix of businesses: Consumer and Business
Banking; Payment Services; Corporate & Commercial Banking; and
Wealth Management and Investment Services. Union Bank, consisting
primarily of retail banking branches on the West Coast, joined U.S.
Bancorp in 2022. U.S. Bancorp has been recognized for its approach
to digital innovation, social responsibility, and customer service,
including being named one of the 2023 World’s Most Ethical
Companies. Learn more at usbank.com/about.
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version on businesswire.com: https://www.businesswire.com/news/home/20230628573074/en/
Todd Deutsch, U.S. Bank Public Affairs & Communications
todd.deutsch@usbank.com | 612.303.4148
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