Bill Parker and Scott Hickey Named Interim Chief Credit Officers
MINNEAPOLIS--(BUSINESS WIRE)--July 17, 2007--Michael J. Doyle
announced today that he has decided to step down as chief credit
officer of U.S. Bancorp (NYSE:USB). P. W. (Bill) Parker and Scott S.
Hickey will succeed Doyle and share his responsibilities as chief
credit officer. Parker, 52, and Hickey, 51, will serve on an interim
basis while the company evaluates internal and external longer term
candidates. Doyle, 51, who has served as chief credit officer since
2002, and has been with U.S. Bank since 1994, will remain with the
organization as an advisor to Richard K. Davis, president and chief
executive officer of U.S. Bancorp, for the transition period.
"I want to thank Mike for his 13 years of outstanding service to
U.S. Bank. Our credit quality is among the best in the industry. He
has made significant contributions to U.S. Bancorp and I've enjoyed
working with him. All of us at U.S. Bank wish him well in his new
endeavors," said Davis.
Parker served under Doyle as chief portfolio risk management
officer and executive vice president and has been with U.S. Bank since
1984. Hickey reported to Doyle as chief credit approval officer and
executive vice president and has been with U.S. Bank since 1985.
"I am looking forward to working more closely with Bill and Scott
who have both been instrumental in helping establish and implement the
prudent credit culture we have today," continued Davis.
U.S. Bancorp, with $223 billion in assets, is the parent company
of U.S. Bank, the 6th largest commercial bank in the United States.
The company operates 2,499 banking offices and 4,867 ATMs, and
provides a comprehensive line of banking, brokerage, insurance,
investment, mortgage, trust and payment services products to
consumers, businesses and institutions. Visit U.S. Bancorp on the web
CONTACT: U.S. Bancorp
Steve Dale, Media, 612-303-0784
Judy Murphy, Analysts, 612-303-0783
SOURCE: U.S. Bancorp