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U.S. Bank Names Venturo Chief Innovation Officer for Payment Services Division


U.S. Bank has promoted Dominic Venturo to the position of chief innovation officer for the company's payment services division. Previously, he was chief innovation officer for retail payment services, a business within the payments services division.

Venturo and his team will continue to identify business opportunities and emerging technologies that meet customer needs as customers understand them today or how they envision them in the future. His team's work will broaden from retail payments, used by consumers and small businesses, to include innovation for larger businesses and targeted business sectors in the United States and internationally and will establish capabilities supporting mobile payments for the bank.

"Our retail payment services innovation team has built an extremely successful model for capturing and delivering innovation to our customers and employees," said Pam Joseph, vice chairman of U.S. Bancorp and head of the payment services division. "U.S. Bank has become a key industry player on the leading edge of payments technologies, and I am delighted that he and his team will apply that successful model across all of our payment services business."

U.S. Bank Payment Services comprises a vast array of payments and processing services for individuals, businesses and institutions of all sizes that use or accept credit, debit or prepaid cards and electronic checks. Its customers are found throughout North America and Europe.

Venturo has been with U.S. Bank for 12 years. Prior to his role as chief innovation officer for retail payments, Venturo held various senior management positions in the payments businesses in which he was responsible for product development, management and marketing.

Venturo earned a bachelor's degree in finance from Oregon State University and is a graduate of the Pacific Coast Banking School at the University of Washington Graduate School of Banking. He lives in Woodbury, Minn., and is based in U.S. Bancorp's headquarters city, Minneapolis.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB), with $308 billion in assets as of Dec. 31, 2010, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,069 banking offices in 25 states and 5,310 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 at www.usbank.com.

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U.S. Bank
Teri Charest, Media Relations, 612-303-0732
"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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