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U.S. Bank Names Industry Veteran to Lead Retail Payments
MINNEAPOLIS, Oct 07, 2009 (BUSINESS WIRE) -- U.S. Bank has named Anthony (Tony) Vuoto to the position of general manager of U.S. Bank Retail Payment Solutions, which comprises consumer and small business credit, debit, prepaid and specialty card businesses, as well as its retail payments innovation unit. He succeeds Pat Coll, who retired from U.S. Bank Retail Payment Solutions in September.

Vuoto, 58, brings more than 25 years of domestic and international financial experience to the position. He comes to U.S. Bank from Washington Mutual, now JP Morgan Chase, where he had been president of its card services division. Vuoto had been with Washington Mutual since its 2005 acquisition of Providian Financial, where he served as chief financial officer. His experience also includes 12 years in leadership positions with Citigroup, including president of its private label card business and general manager of its German credit card business.

"Tony brings tremendous depth and experience to this position, which is crucial at a time when our industry is experiencing a significant transition," said Pamela Joseph, vice chairman and head of U.S. Bancorp Payment Services. "U.S. Bank is uniquely positioned to grow its business - not only because we have emerged as one of the strongest financial institutions in the country, but also because our retail payments group is one of the finest in the industry, with the bench strength to continue to capitalize on market opportunities."

"This is a great opportunity to join a solid financial institution with its firm commitment to maintaining an industry leading position in retail payments. I look forward to working with Pam and the rest of the organization to continue its impressive performance," said Vuoto.

Vuoto currently lives in Pleasanton, Calif. with his wife, Maria. He has two sons currently attending college in Arizona. Vuoto earned a bachelor's degree in economics from Princeton University and an MBA from the University of Pennsylvania's Wharton School of Business.

U.S. Bancorp (NYSE: USB), with $266 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,850 banking offices and 5,173 ATMs in 24 states, 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 at www.usbank.com.

SOURCE: U.S. Bank

U.S. Bank Media Relations
Steve Dale, 612-303-0784
steve.dale@usbank.com
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.



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