U.S. Bank recently announced several changes in its Fixed Income & Capital Markets (FICM) business, designed to further strengthen its strategic client focus and speed-to-market capabilities across business lines.
“Our success with clients continues to be driven by a holistic, product-agnostic approach, coupled with a commitment to an expanded product suite and a greater solutions-oriented mindset,” said Stephen Philipson, head of Fixed Income & Capital Markets. “With the appointment of these new senior leaders in several key product areas, we are creating the foundation for our next stage of growth.”
In FICM, which includes Loan Capital Markets, Credit Fixed Income, Derivatives Products Group, Foreign Exchange and Municipal Products Group, the following organizational changes have taken place:
- Derivatives and Foreign Exchange Products: Jonathan York, previously head of the Derivatives Products Group, has a new and expanded role designed to align strategies, enhance synergies and better serve clients across Derivatives and Foreign Exchange.
- Foreign Exchange (FX): Chris Braun has been named the new head of Foreign Exchange, after leading the FX sales effort for the bank since 2014, where he helped significantly grow market share for the business.
- FX Sales: Paula Comings will lead FX Sales as co-head of the business, with responsibility for the sales teams covering Corporate Banking, Commercial Real Estate and Investor Services client bases.
- FX Sales: Mary Henehan will also lead FX Sales as co-head of the business, with specific responsibility for sales coverage of Commercial Banking, Community Banking, Wealth Management and Global Treasury Management clients.
- Loan Capital Markets (LCM): Jeanne Rudelius has been appointed the head of the LCM teams, covering Commercial Real Estate and Community Banking.
- Loan Capital Markets: Bill Mulvihill will lead the LCM team covering Commercial Banking while continuing in his role as head of the Sports Finance Group at U.S. Bank.
- Sports Finance: Steve Vogel is now deputy head of the Sports Finance Group and will assume increased leadership responsibilities as a key driver of the bank’s success in this area.
“Enhancing our capabilities with greater segment-specific expertise and specialized client focus to complement our core capital-markets strengths is critical to advancing our goal as a true lead bank with clients,” said Philipson.
Corporate & Commercial Banking is one of the bank’s four main business lines, providing middle market, large corporate, and commercial real estate clients with a wide range of solutions and deep industry expertise to meet their most complex needs.
About U.S. Bank
U.S. Bancorp, with more than 70,000 employees and $543 billion in assets as of March 31, 2020, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The Minneapolis-based bank blends its relationship teams, branches and ATM network with mobile and online tools that allow customers to bank how, when and where they prefer. U.S. Bank is committed to serving its millions of retail, business, wealth management, payment, commercial and corporate, and investment services customers across the country and around the world as a trusted financial partner, a commitment recognized by the Ethisphere Institute naming the bank one of the 2020 World’s Most Ethical Companies. Visit U.S. Bank at usbank.com or follow on social media to stay up to date with company news.
Elizabeth Parra, U.S. Bank Communications