Shailesh Kotwal, vice chair of payment services at U.S. Bancorp, the parent company of U.S. Bank, intends to retire from the company in the first half of 2025.

“For nearly a decade, Shailesh has been a forward-looking champion of payments and money movement and a leader who has inspired our organization to expand its capabilities in a rapidly evolving area of the industry,” Andy Cecere, chairman and CEO of U.S. Bancorp, said. “He has been an advocate and friend, and we now have the opportunity to wish him well as he moves onto his next milestone: retirement.”

Kotwal, 60, will remain in his role for several months, and a search for new payment services leadership will begin immediately. He will work with the company to ensure a smooth transition for employees, clients and partners alike.

Kotwal has been with the bank since 2015, leading payment services and providing a key voice on the board of directors for Elavon Financial Services in Europe. He was a guiding force in the company’s expansion of digital- and card-based payments and money movement capabilities to consumers, businesses and institutions across two continents. All told, his career in international financial services spanned 35 years.

“We have grown our expertise, expanded our reach via partnerships and brought innovation to millions of customers under Shailesh’s leadership,” Gunjan Kedia, president of U.S. Bancorp, said. “We appreciate all Shailesh has done as payments transformed rapidly during his tenure, and we wish him all the best as he prepares for his well-earned retirement.”