Andy Cecere to head US Bank

O’Maley said: “Andy’s transition to CEO has been seamless and the company is performing well. His leadership is well respected by this board and among the company’s many different stakeholders. We look forward to maintaining this continuity of governance and we know that Andy’s leadership will help US Bank preserve its industry-leading financial performance, strong culture and engaged workforce.”

O’Maley thanked Davis for his 42 years of service to the company and the banking industry, adding: “His list of achievements is extensive; however, his most lasting and remarkable success is the positive impact he’s made on every person he’s encountered in banking.”

Cecere has been with US Bank since 1985. He was named CEO in January 2017 and he has served as president since January 2016.

Prior to that, he served as vice-chairman and chief financial officer, and vice-chairman of wealth management and securities services.

Cecere said: “Having partnered with Richard for more than 11 years, I feel well prepared to assume this new responsibility and lead US Bank into its next generation of banking excellence.

“We will continue to deliver an industry-leading financial performance – and we will do it with ethics and integrity as we work to become the most trusted choice for all our stakeholders.”