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US Bancorp Names New Vice Chairmen

US Bancorp has appointed Terrance Dolan as vice chairman of wealth management and securities services and Jeffry von Gillern as vice chairman of technology and operations services. Both appointments are effective July 1, 2010.

Mr Dolan will succeed Diane Thormodsgard and Mr Von Gillern will succeed William Chenevich. Ms Thormodsgard and Mr Chenevich are retiring effective June 30, 2010.

Mr Dolan is currently executive vice president and controller of US Bancorp and has held that position for 11 years. Mr Gillernis currently chief information officer of US Bancorp and has been with the company for nine years.

Mr Dolan and Mr Von Gillern will join the US Bancorp managing committee, which consists of the 14 senior executives in the company. In addition, Craig Gifford, currently senior vice president and chief accounting officer, will be named controller to succeed Mr Dolan. Mr Gifford joined the company in 2008.

Richard Davis, chairman, president and CEO of US Bancorp, said: “Mr Dolan and Mr Von have both been a part of our company for many years and have aptly demonstrated their ability to step into these very important leadership roles. I am especially pleased that we were able to draw from our own team of talented leaders to find the right successors for the jobs. I look forward to working more closely with both of them as our company continues to grow and prosper.”