U.S. Bank has received all required U.S. regulatory approvals to complete its previously announced acquisition of MUFG Union Bank’s core regional banking franchise from Mitsubishi UFJ Financial Group (MUFG).
U.S. Bank unveiled several company-wide commitments to address the impacts of climate change on its business, customers and communities, including setting a goal to achieve Net Zero greenhouse gas emissions by 2050.
U.S. Bancorp entered into a definitive agreement to acquire MUFG Union Bank’s core regional banking franchise from Mitsubishi UFJ Financial Group. Under the terms of the agreement, U.S. Bancorp will purchase MUFG Union Bank for approximately $8 billion.
U.S. Bank hired Elcio Barcelos as senior EVP and chief human resources officer and promoted Greg Cunningham to senior EVP and restructured his role as chief diversity officer to report directly to the chairman, president and CEO of the bank. The bank also promoted Dominic Venturo to senior EVP and chief digital officer.
Ismat Aziz joined U.S. Bank as chief human resources officer. Aziz has more than 20 years of HR experience, most recently serving as the CHRO at Sprint.
U.S. Bank named industry veteran Jodi Richard its new vice chairman and chief risk office. Richard will succeed P.W. Parker, who is retiring in the fall.
Andy Cecere, currently president and chief operating officer, will succeed Richard Davis as CEO of U.S. Bancorp on April 18, 2017, the date of the bank’s annual meeting of shareholders.