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U.S. Bank Names Gareth Gaston to Lead Mobile, Internet and 24-Hour Banking

MINNEAPOLIS--(BUSINESS WIRE)--Mar. 26, 2014-- U.S. Bank has named Gareth Gaston as executive vice president, Virtual Banking. In this new role, Gaston will lead the bank’s mobile, Internet and 24-hour banking division, reporting directly to Kent Stone, vice chairman for consumer banking and sales support. The move aligns the bank’s non-branch channels as more customers seek alternative channels for their banking needs.

Gaston brings 18 years of e-commerce and digital marketing experience to U.S. Bank. He has worked primarily in the travel and hospitality industry, with worldwide brands including Hilton, and most recently, the Wyndham Hotel Group, where he was senior vice president for global e-commerce.

“Aligning and growing our mobile, Internet, ATM and traditional phone banking channels will allow us to better serve customers who are moving their banking to the ‘virtual’ space,” said Stone. “Gareth brings fresh perspective, having worked outside of the financial sector. He has been in digital marketing and e-commerce since it began in the mid-90s, and has a record of success in the travel and hotel industry, capturing significant market share and growing a customer base in the non-traditional retail channels.”

“I am inspired by the role and by U.S. Bank’s reputation in the industry,” Gaston said. “Banking is one of the most trusted relationships you have in your life. Banks have an opportunity to play an increasing role in making their customers’ lives fuller and even more rewarding. The area I’m moving into is a big part of how banks can innovate and create a very special experience, beyond transactional interactions, to build meaningful relationships with their clients.”

A native of Scotland, Gaston graduated from The University of the West of Scotland in 1996 with a bachelor’s degree in marketing. An army cadet from the age of 14, he entered the British Territorial Army in 1992 while he was working on his degree, and became a Platoon Commander in the Scottish Infantry after gaining the Queen’s Commission at Royal Military Academy Sandhurst in 1995. Following an internship in a hotel company, Gaston started working in the online space as the Internet was beginning to emerge.

In the last 14 years, Gaston’s career has grown and he has worked from locations including Los Angeles, London, New Jersey and Tokyo. Gaston has recently completed a Global Executive MBA from the TRIUM program, an alliance of New York University Stern School of Business, London School of Economics and HEC School of Management in Paris. For his new role with U.S. Bank, Gaston will be will be relocating his family from New Jersey to San Francisco, where many of U.S. Bank’s digital banking teams are based.

U.S. Bank has been recognized nationally for its leadership in many areas of digital banking, including “photo banking” – using a smartphone camera to deposit checks, set up bill pay or transfer credit card balances. U.S. Bank has recently updated its online presence and is garnering recognition from industry analysts for its proficiency and ease of use.

U.S. Bancorp (NYSE: USB), with $364 billion in assets as of Dec. 31, 2013, is the parent company of U.S. Bank N.A., the 5th largest commercial bank in the United States. The company operates 3,081 banking offices in 25 states and 4,906 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 Corporate 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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