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U.S. Bank Names Rex Rudy Head of Commercial Real Estate Division

MINNEAPOLIS--(BUSINESS WIRE)--May 4, 2015-- U.S. Bank has hired industry veteran Rex Rudy to head its commercial real estate division, succeeding Joe Hoesley, who retired in March. Rudy brings more than 20 years of experience in the industry, most recently as managing director and group head of real estate investment trust (REIT) finance at Wells Fargo.

Rex Rudy (Photo: Business Wire)

Rex Rudy (Photo: Business Wire)

“Rex is an experienced commercial real estate banker with strong leadership skills and a proven record of driving growth. We’re pleased for him to join U.S. Bank,” said Richard Payne, vice chairman and head of U.S. Bank’s wholesale banking division. “We also congratulate Joe on his retirement and thank him for his 22-year career at U.S. Bank during which time he built our CRE division into a strong, national franchise.”

As division head, Rudy will oversee 350 employees in the bank’s 24 commercial real estate offices across the country. The division focuses on establishing long-term relationships with commercial real estate developers, REITs, and commercial property owners located across the United States.

“I am honored to join the U.S. Bank team with its world-class franchise and industry-leading reputation and performance. U.S. Bank has a long history in commercial real estate supported by a disciplined approach and focus on supporting our clients,” Rudy said.

Rudy will be based in Charlotte, a market in which U.S. Bank has grown tremendously in recent years. The bank now employs 350 people in the market, nearly double what it did in 2008. The expansion is largely the result of growth in the bank’s wholesale banking, corporate trust and compliance divisions.

Rudy earned bachelor’s and master’s degrees in business administration from Ohio State University. He and his wife, Lisa, have three children: Connor, Cameron and Kristin.

About U.S. Bank

U.S. Bancorp (NYSE: USB), with $410 billion in assets as of March 31, 2015, is the parent company of U.S. Bank National Association, the 5th largest commercial bank in the United States. The Company operates 3,172 banking offices in 25 states and 5,016 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 usbank.com.

Source: U.S. Bancorp

U.S. Bank Corporate Communications
Pat Swanson, 651-587-3590

"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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