U.S. Bancorp Expands WCIB Business, Forms Institutional Client Group

U.S. Bancorp, the parent company of U.S. Bank, expanded leadership roles for Stephen Philipson and Felicia La Forgia as part of an effort to strategically position the bank’s wealth, corporate, commercial and institutional banking (WCIB) team. They will continue to report to Gunjan Kedia, who was recently named president of U.S. Bancorp, overseeing the company’s revenue lines of business, including consumer and business banking (CBB), payment services and WCIB.

Philipson’s role has been expanded to lead the collection of all WCIB product businesses that provide solutions for the company’s wealth and institutional client segments. A member of the bank’s managing committee, Philipson previously led global markets and specialized finance in WCIB. La Forgia has been promoted to lead a newly formed unit called the institutional client group (ICG), which brings together teams that manage client relationships across regions and sectors to drive a more holistic and consistent client experience. La Forgia previously led corporate banking.

“With strategic vision and consistent execution, Stephen and Felicia have played critical roles in positioning U.S. Bank for long-term success,” Kedia said. “Stephen is known for his deep product knowledge and offering innovative solutions, and now, by elevating our relationship channels into a stronger and more cohesive unit, Felicia will drive consistency and excellence in regional and sector coverage across all our corporate, commercial and institutional clients. Their close collaboration will bring the full strength of U.S. Bank to the companies and institutions we serve.”

Since joining U.S. Bancorp in 2009, Philipson has played a key leadership role in building U.S. Bancorp’s fixed income and capital markets businesses. He most recently served as head of global markets and specialized finance (GMSF), which comprises a broad range of capabilities utilized by institutions, including corporate trust and custody, loan capital markets, credit fixed income, foreign exchange, interest rate derivatives, equipment finance and asset management. Philipson has more than 20 years of financial services experience.

La Forgia brings more than 30 years of banking experience to her role and was most recently head of corporate banking at U.S. Bank, where she led client activity in all industry, geographic and government sectors. Prior to that, she was group head of the bank’s oil and gas, retail and apparel and utilities divisions. She is a longtime advocate for women and junior talent and has been recognized by American Banker as part of the U.S. Bank Most Powerful Women in Banking team.

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