PORTLAND, Ore., Aug 7, 2003 (BUSINESS WIRE) -- (NYSE:USB)
U.S. Bank has named Ralph S. (Mike) Michael to lead commercial banking and serve
as the market president for U.S. Bank in Portland. Michael succeeds Joseph M.
Otting who was promoted to lead all commercial banking efforts for U.S. Bank in
its eastern U.S. territory. Michael begins his work in Portland on Monday, Aug.
"Mike brings tremendous attributes to this position, both personally and
professionally," said David I. Rainer, head of commercial banking in U.S.
Bancorp's western region. "His work both in the financial services industry and
in the community is admired by many who have known him over the years, and I am
thrilled that his talents and energy will now be devoted to U.S. Bank customers,
employees, community stakeholders and shareholders in Portland. Mike is a
'roll-up the sleeves and let's get to work' type of banker who will spend most
of his time working with customers, talking and visiting with employees and
getting to know the Portland community and its leaders."
A 28-year banking veteran, Michael, 48, most recently worked for PNC Financial
Services Group in Pittsburgh, where he was executive vice president and group
executive leading the company's private client banking, capital markets, large
corporate banking and leasing businesses. In prior positions, Michael also led
treasury management and was instrumental in creating PNC's electronic invoicing
and payment presentment system. From May 1992 to February 1996, Michael was
market president overseeing PNC Bank in Ohio and northern Kentucky.
In addition to his successes in banking, Michael is an active community leader,
an area that he strongly believes in and will continue with his new
responsibilities in Portland. Michael is past chairman of the Greater Cincinnati
United Way campaign, vice chairman of Cincinnati Business Committee and has
served on numerous local boards throughout his career including Children's
Hospital of Pittsburgh and Xavier University.
U.S. Bancorp (NYSE:USB), with assets of $195 billion, is the 8th largest
financial services holding company in the United States. The company operates
2,199 banking offices and 4,575 ATMs, and provides a comprehensive line of
banking, brokerage, insurance, investment, mortgage, trust and payment services
products to consumers, businesses and institutions. U.S. Bancorp is home of the
Five Star Service Guarantee which assures customers of certain key banking
benefits and services or customers will be paid for their inconvenience. U.S.
Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at
SOURCE: U.S. Bank
CONTACT: U.S. Bank
Teri Charest, 612-303-0732
Steve Dale, 612-303-0784
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SOURCE: U.S. Bank