U.S. Bank named Ariel Meyerstein the head of its environmental, social and governance (ESG) program office. Meyerstein has more than 20 years of experience in international law, global policy, ESG and sustainable finance.
U.S. Bank Names Sakstrup Chief Product Officer for Wealth, Corporate, Commercial & Institutional Banking
U.S. Bank named Kai Sakstrup chief product officer for its wealth, corporate, commercial and institutional banking (WCIB) division. Beginning Oct. 1, Sakstrup will lead a cross-functional team in developing and creating new products across the WCIB organization to better serve wealth and institutional clients, commercial businesses and corporations.
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.
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.
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.
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.
Cleveland-Cliffs amended and extended its asset-based lending credit facility. The amendment extends the maturity date of the facility to June 9, 2028, and transitions the benchmark interest rate from LIBOR to SOFR. BofA Securities served as lead arranger for the ABL facility.
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.
KeyBank Specialty Finance, CIBC Bank USA and other lenders increased the aggregate commitments on Runway Growth Finance’s existing revolving credit facility to $500 million.
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.