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U.S. Bank Appoints Michael Righi to Serve as Northern California President

SAN FRANCISCO--(BUSINESS WIRE)--Sep. 27, 2013-- U.S. Bank has hired Michael Righi to lead its middle market commercial banking teams in the Pacific Northwest and to serve as the company’s president for Northern California. Righi will be based in San Francisco.

U.S. Bank has hired Michael Righi to lead its middle market commercial banking teams in the Pacific  ...

U.S. Bank has hired Michael Righi to lead its middle market commercial banking teams in the Pacific Northwest and to serve as the company's president for Northern California. Righi will be based in San Francisco. (Photo: Business Wire)

In addition to serving as market president for Northern California, Righi will oversee commercial banking throughout the Pacific Northwest region. U.S. Bank Market Presidents Malia Wasson in Portland and Chris Heman in Seattle will continue in their leadership roles, reporting to Righi.

Righi succeeds Michael Walker, who recently took a new role leading corporate banking for U.S. Bank’s western region. Walker is a veteran of the financial services industry, with more than 30 years of experience in commercial, corporate and investment banking. Walker joined U.S. Bank in 2005 and ran commercial banking in Northern California prior to taking a new leadership position within U.S. Bank’s national corporate banking division.

“We are thrilled to welcome Michael Righi to U.S. Bank, and to congratulate Michael Walker on his new role in national corporate banking,” said Elliot Jaffee, executive vice president and head of commercial banking at U.S. Bank. “Michael Walker has done a tremendous job in his role as president and the company will continue to benefit from his experience and leadership as he develops national business for our corporate banking team.

“Michael Righi’s experiences in banking and his knowledge of the Bay Area and the Pacific Northwest make him an ideal person to ensure a smooth transition as we continue to grow U.S. Bank’s presence in Northern California and the Pacific Northwest,” said Jaffee.

“This is a great company with tremendous momentum given its reputation and strength in the industry,” said Righi. “This is a historic time for banking, and I’m excited to have this opportunity to join U.S. Bank’s leadership team as businesses rebound and look to strong financial partners to help them grow.”

Righi comes to U.S. Bank from Bank of America, where he led the global commercial bank middle market banking teams throughout the Greater Bay Area and was also a dual employee of their investment bank. He holds a FINRA security licenses for the series 7, 24 and 63 designations, and will focus on delivering capital market solutions to middle market clients throughout the region.

A native of Seattle, Righi’s 25 years of experience includes leadership roles with KeyCorp, several years with U.S. Bank’s legacy company People’s Bank in Seattle, as well as early years as a national bank examiner. Righi is a graduate of Seattle University and the Pacific Coast Banking School at the University of Washington.

In the community, Righi is a board trustee for the Contemporary Jewish Museum in San Francisco, serves as an advisory board trustee for Pacific Northwest Ballet in Seattle.

About U.S. Bancorp
U.S. Bancorp (NYSE: USB), with $353 billion in assets as of June 30, 2013, is the parent company of U.S. Bank, the 5th largest commercial bank in the United States. Celebrating its 150th anniversary this year, the company operates 3,087 banking offices in 25 states and 5,032 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.

Source: U.S. Bank

U.S. Bank Public Relations
Teri Charest, 612-303-0732
teri.charest@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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