Longtime U.S. Bank Treasury Management leader transitions to new role
MINNEAPOLIS--(BUSINESS WIRE)--Sep. 21, 2015--
Jeffrey W. Jones has been named president of U.S. Bank Corporate Payment
Systems, succeeding Kurt Adams, who left the bank earlier this month. A
32-year U.S. Bank veteran, Jones has been head of its Global Treasury
Management group since 2001. His appointment is effective today.
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Jeffrey W. Jones has been named president of U.S. Bank Corporate Payment Systems (Photo: U.S. Bank)
U.S. Bank Corporate Payment Systems helps organizations reduce payment
costs and enhance efficiency through the use of travel, purchasing,
fleet and aviation charge cards as well as virtual accounts and other
payment products. With 1,000 employees in North America and Europe, the
business processed $53.6 billion in payments volume in 2014. It is the
second-largest issuer of corporate travel cards and third-largest issuer
of purchasing cards in the United States*. Its Freight Payment business
was a pioneer in its industry and continues to be one of the largest in
the world.
“Jeff’s management acumen, demonstrated over many years at the bank,
makes him the ideal choice to take the reins of our corporate payments
business and position it for robust growth,” said U.S. Bank Vice
Chairman for Payment Services Shailesh Kotwal. “Under his astute
leadership, our Global Treasury Management group transformed into a
premier provider of consultative working capital management solutions,
top ranked by the Greenwich
Quality Index and other independent reviewers. He will bring that
same energy and forward-thinking approach to his new role.”
Jones, who joined the company in 1983, held a variety of roles in
wholesale banking before assuming leadership of the Global Treasury
Management group in 2001. In that capacity, he was responsible for
developing and providing treasury management, payment and international
trade solutions to corporate, commercial, institutional and small
business clients. He is a graduate of Stanford University, where he
earned degrees in economics and political science.
“I am honored and excited to accept this position at a time of
tremendous opportunity for the business,” Jones said. “The rapid
development of mobile and other forms of cardless payment foretells a
period of unprecedented innovation in corporate payments. I look forward
to leading this world-class team as we strive to create enhanced
payments solutions and efficiencies for our customers.”
About U.S. Bank
Minneapolis-based U.S. Bancorp (NYSE: USB),
with $419 billion in assets as of June 30, 2015, is the parent company
of U.S. Bank National Association, the fifth-largest commercial bank in
the United States. The Company operates 3,164 banking offices in 25
states and 5,020 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.
*The Nilson Report, June 2015 rankings
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Source: U.S. Bank
Bill Brady, U.S. Bank Corporate Communications
(612) 303-0731, bill.brady@usbank.com