U.S. Bancorp (Form: 8-K)

0001299933-15-000314.txt : 20150227 0001299933-15-000314.hdr.sgml : 20150227 20150227093403 ACCESSION NUMBER: 0001299933-15-000314 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20150224 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150227 DATE AS OF CHANGE: 20150227 FILER: COMPANY DATA: COMPANY CONFORMED NAME: US BANCORP \DE\ CENTRAL INDEX KEY: 0000036104 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 410255900 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06880 FILM NUMBER: 15655249 BUSINESS ADDRESS: STREET 1: U.S.BANCORP STREET 2: 800 NICOLLET MALL CITY: MINNEAPOLIS STATE: MN ZIP: 55402 BUSINESS PHONE: 651-466-3000 MAIL ADDRESS: STREET 1: U.S.BANCORP STREET 2: 800 NICOLLET MALL CITY: MINNEAPOLIS STATE: MN ZIP: 55402 FORMER COMPANY: FORMER CONFORMED NAME: FIRST BANK SYSTEM INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: FIRST BANK STOCK CORP DATE OF NAME CHANGE: 19720317 8-K 1 htm_51370.htm LIVE FILING U.S. Bancorp (Form: 8-K)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report (Date of Earliest Event Reported):		February 24, 2015

U.S. Bancorp
__________________________________________
(Exact name of registrant as specified in its charter)


Delaware	1-6880	41-0255900
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)

800 Nicollet Mall, Minneapolis, Minnesota		55402
_________________________________ (Address of principal executive offices)		___________ (Zip Code)


Registrant’s telephone number, including area code:		651-466-3000

Not Applicable
______________________________________________
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b)

On February 27, 2015, U.S. Bancorp (the "Company") announced the hiring of Shailesh Kotwal as Vice Chairman, Payment Services. Mr. Kotwal will succeed Pamela A. Joseph, the Company’s current Vice Chairman, Payment Services, who has informed the Company that she plans to retire in mid-2015, following an orderly transition of her function. Mr. Kotwal is expected to join the Company at the end of the first quarter.

A copy of the press release issued by the Company on February 27, 2015, announcing Mr. Kotwal’s hiring and Ms. Joseph’s retirement is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.
99.1 Press release dated February 27, 2015

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	U.S. Bancorp

February 27, 2015	By:	/s/ James L. Chosy

		Name: James L. Chosy
		Title: Executive Vice President, General Counsel and Corporate Secretary

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Exhibit Index


Exhibit No.		Description

99.1		Press release dated February 27, 2015

EX-99.1 2 exhibit1.htm EX-99.1 EX-99.1

News Release

Shailesh Kotwal Hired as Vice Chairman, Payment Services for U.S. Bank;
Kotwal Will Succeed Pamela Joseph Following her Planned Retirement

MINNEAPOLIS – February 27, 2015 – U.S. Bank (NYSE: USB), the fifth largest commercial bank in the United States, announced today that Shailesh Kotwal has been hired as vice chairman, Payment Services, U.S. Bank. He will join U.S. Bank at the end of the first quarter and will report to Andy Cecere, vice chairman and chief operating officer, U.S. Bank.

Kotwal will succeed Pamela Joseph, currently vice chairman, Payment Services, who plans to retire from U.S. Bank in mid-2015. Joseph has been with U.S. Bank for more than 10 years. Kotwal has more than 25 years of experience in the Payments industry.

“We congratulate Pam on a tremendous career at U.S. Bank and for propelling us into a strong leadership position in the Payment Services marketplace,” said Richard K. Davis, chairman, president, and chief executive officer, U.S. Bank. “One of Pam’s most significant and lasting contributions to U.S. Bank is the strong leadership team she has established across her global organization, which will allow us to continue expanding our presence in the Payments market. For now, it is business as usual as we work toward a seamless leadership transition to Shailesh in the weeks ahead.”

“I have treasured my years with U.S. Bank and have the utmost confidence in Shailesh, and the entire Payment Services’ leadership team, to continue creating exceptional value for all of our customers,” Joseph said. “I am excited to begin this next phase of my journey and wish all my colleagues the very best in the years ahead.”

Kotwal has an extensive background in the payments industry having spent years in executive leadership roles with TD Bank, Fidelity National Information Services (eFunds), and American Express establishing a track record for financial performance combined with innovation and business development. He holds a Bachelor’s Degree in Commerce from Bombay University and is a Chartered Accountant. Kotwal will join U.S. Bank’s Managing Committee.

“We are very pleased to have someone of Shailesh’s caliber joining the U.S. Bank management team to lead our Payments organization through its next phase of growth and expansion,” Cecere said. “The Payments industry is rapidly evolving and it is one of our strongest and fastest growing business lines. Shailesh will complement the solid global leadership team that we have in place as we continue our commitment to helping our payments customers manage their financial futures.”

Kotwal added: “U.S. Bank has a dominant presence in the Payments business. It is truly a privilege to join this outstanding franchise with such an impressive performance and a very promising future. I look forward to joining the team and helping deliver safe, secure, and innovative payment solutions for our retail, corporate, and merchant customers across the globe.”

About U.S. Bank

U.S. Bancorp (NYSE: USB) with $403 billion in assets as of December 31, 2014, is the parent company of U.S. Bank National Association, the 5th largest commercial bank in the United States. The Company operates 3,176 banking offices in 25 states and 5,022 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.

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Contacts:


Dana E. Ripley Corporate Communications (612) 303-3167		Sean O’Connor Investor Relations (612) 303-0778