MINNEAPOLIS--(BUSINESS WIRE)--Feb. 28, 2007--U.S. Bank has
promoted Timothy Shafer to senior vice president and head of its
foreign exchange department. He succeeds Pat Noble, who retired after
32 years with the company.
Shafer, 45, has been with U.S. Bank since 2004. Prior to this
promotion, he managed the foreign exchange sales group for U.S. Bank,
with teams in Minneapolis, St. Louis, Milwaukee, Seattle, Portland and
Los Angeles. Prior to joining U.S. Bank, he worked for Bank One (now
JP Morgan Chase) where he served in the foreign exchange group for
nearly 20 years, culminating in his role as national middle market
sales manager. He has 22 years of experience in the industry, with
special expertise in foreign exchange sales, trading and international
Shafer will oversee a team of 26 foreign exchange professionals
offering a full line of foreign exchange risk management products.
Among them are inter-bank trading, currency options and foreign
exchange sales and advisory services.
"I am delighted for Tim to have this opportunity to take the
leadership reigns for our foreign exchange business," said Dennis
Battles, executive vice president in U.S. Bank Corporate Banking. "He
has consistently out-performed in his sales management role which,
along with his depth of experience, puts him in a unique position to
take us to the next level of success in this business."
Shafer earned a bachelor's degree in business administration from
Bowling Green State University in Bowling Green, Ohio, and has
completed coursework in European business and culture at Ecole
Superieure du Commerce de Nantes in Nantes, France. A native of Mt.
Vernon, Ohio, Shafer now lives in Minneapolis.
U.S. Bancorp (NYSE:USB), with $219 billion in assets, is the 6th
largest financial holding company in the United States. The company
operates 2,472 banking offices and 4,841 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.
CONTACT: U.S. Bank
Teri Charest, Media Relations, 612-303-0732
SOURCE: U.S. Bank