U.S. Bank Related Content

U.S. Bank Launches Initiative to Serve Healthcare Practices, Persichetti to Lead

U.S. Bank launched a new cross-business initiative to serve healthcare practices with up to $25 million in annual revenue, appointing Joe Persichetti head of healthcare business banking to lead the effort. read more

U.S. Bank Names Patel Chief Product Officer for Business Banking Segment

Shruti Patel joined U.S. Bank as chief product officer for the business banking segment. Patel was most recently head of global product partnerships and monetization at e-commerce company Shopify. Prior to that, she was head of embedded payments and partnerships at JPMorgan Chase. read more

U.S. Bank Announces Leadership Changes

U.S. Bank announced that Terrance Robert Dolan and John Stern will assume new roles on Sept. 1, with Dolan becoming vice chair and chief administration officer to oversee the company’s combined chief administration office, while Stern will become senior executive vice president and CFO. read more

Truck Freight Volume & Spending Decline by Sharpest Amount Since Early COVID-19 Pandemic

Truck freight volume and spending in Q2/23 declined by the highest levels since the early days of the COVID-19 pandemic, according to the latest U.S. Bank Freight Payment Index. Spending by shippers dropped 10.9% in the quarter compared with Q2/233, while shipment volume dropped 9%. read more

JP Morgan and US Bank Provide $750MM Credit Facility to Henry Schein

Henry Schein, a provider of healthcare solutions to office-based dental and medical professionals, closed on a $750 million credit facility with a maturity date of July 2026. JP Morgan Securities and U.S. Bank acted as joint lead arrangers. read more

US Bank Names Whang Head of Commercial Products Group

U.S. Bank named Jimmy Whang head of its commercial products group, effective June 30. Whang replaces Stephen Philipson, who was recently promoted to a new role overseeing global markets and specialized finance (GMSF). read more

US Bank Promotes Ford to President of Wealth Management

U.S. Bank promoted Scott Ford to president of wealth management, succeeding Mark Jordahl, who will retire this summer. Previously, Ford led U.S. Bank’s affluent wealth management business and U.S. Bancorp Investments’ financial advisors. read more

US Bank to Transition Securities From LIBOR to SOFR After June 30

After June 30, U.S. Bank will replace three-month LIBOR with three-month CME term SOFR as the reference rate for certain outstanding floating rate or fixed-to-floating rate debt securities, preferred stock represented by depositary shares, income trust securities and preferred stock. read more

Truck Freight Volume Continues to Contract Nationwide Despite Increases in Southwest

According to the latest U.S. Bank Freight Payment Index, the volume of freight shipments moved via truck in the United States declined in Q1/23 by 6.1% year over year. This was the fourth quarter in a row in which volume has contracted on an annual basis. read more

US Bank Introduces New Business Diversity Lending Program

U.S. Bank introduced a new business diversity lending program that will expand the ability of women-, minority- and veteran-owned businesses to obtain capital, building upon the bank’s broader efforts to support underrepresented businesses and help address the wealth gap. read more

US Bank Appoints New Executive Leaders to Succeed Quinn and Kelligrew

U.S. Bank appointed new members to its executive leadership team to succeed Kate Quinn, vice chair and chief administrative officer, and Jim Kelligrew, vice chair of corporate and commercial banking, who will retire on June 30. read more

US Bank Names Martin President of Global Fund Services

U.S. Bank hired Jay Martin as president of global fund services. In his role, Martin will lead a global team that combines technology with customer service to offer customized product solutions for alternative investments, mutual funds and exchange-traded products. read more

Major US Banks Deposit $30B in First Republic in Wake of Silicon Valley Bank Collapse

Last week, 11 banks, including Bank of America, Citigroup, JPMorgan Chase and Wells Fargo, combined to make $30 billion in uninsured deposits in First Republic Bank to display confidence in the U.S. banking system following the collapse of Silicon Valley Bank. read more

US Bank Adds Mascotto as Head of Sustainable Finance

U.S. Bank hired Guillaume Mascotto as the company’s head of sustainable finance. In this new leadership role, Mascotto will build and lead a new team focused on identifying sustainable finance opportunities across the entire U.S. Bank enterprise. read more

US Bank Names Kaalund New Head of Branch Banking

Sekou Kaalund joined U.S. Bank in the newly created role of head of branch banking, a leadership role within consumer and business banking responsible for U.S. Bank’s more than 2,200 branches as well as its consumer and small business bankers spread out across 26 states. read more

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