U.S. Bancorp Appoints Terry Dolan as Chief Financial Officer; Dolan is Currently Vice Chairman, Wealth Management & Securitie...
June 13 2016 - 11:05AM
Business Wire
Kathy Rogers, Currently Chief Financial
Officer to Step Down; Will Remain With the Company in Leadership
Role
U.S. Bancorp (NYSE:USB), the parent company of U.S. Bank
National Association, the fifth largest commercial bank in the
United States, announced today that Terry Dolan, currently vice
chairman, Wealth Management & Securities Services, has been
appointed to vice chairman and chief financial officer, effective
Aug. 1. He will report to Richard Davis, chairman and chief
executive officer.
Kathy Rogers, currently vice chairman and chief financial
officer, has made the difficult decision to step down from that
role, effective Aug. 1, due to changing family circumstances and
the need to be in Cincinnati full-time. She will remain with the
company in her previous role, as head of the Stress Test process,
and be based in Cincinnati. Rogers will continue in her
responsibilities as CFO through the transition and will participate
in the second quarter earnings results conference call on July
15.
Dolan has been with U.S. Bank for nearly 18 years and has been
in his current role as vice chairman, Wealth Management &
Securities Services since July 2010. Prior to his current role, he
served as executive vice president and controller at U.S. Bank. In
addition, he has led a variety of important functions, including
accounting and related operations, finance, tax, corporate
insurance, corporate development and business integration, where he
was responsible for a variety of merger and acquisition activities.
Under his leadership, Wealth Management & Securities Services’
revenues have grown approximately 30 percent and net income has
grown approximately 18 percent, including expansion into U.S.
Bank’s European markets. The process to identify Dolan’s
replacement for Wealth Management & Securities Services is
underway.
“Executive development is an ongoing conversation at U.S. Bank.
We are fortunate to have a Board of Directors that demands bench
strength and leadership versatility,” Davis said. “Terry is an
exceptional leader who has held a variety of high-profile roles at
the bank with a strong track record of delivering outstanding
results. Terry will seamlessly transition into the CFO role, given
his extensive financial background and the diverse experiences he
has had with the bank.”
About U.S. Bank
U.S. Bancorp (NYSE: USB), with $429 billion in assets as of
March 31, 2016, is the parent company of U.S. Bank National
Association, the fifth largest commercial bank in the United
States. The Company operates 3,129 banking offices in 25 states and
4,954 ATMs and provides a comprehensive line of banking,
investment, mortgage, trust and payment services products to
consumers, businesses and institutions. Visit U.S. Bancorp on the
web at www.usbank.com.
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U.S. BancorpMedia:Dana E. Ripley,
612-303-3167orInvestors/Analysts:Jen Thompson, 612-303-0778
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