U.S. Bancorp's president and chief operating officer, Philip G. Heasley, said Tuesday that he had resigned from the post at the Minneapolis banking company to pursue an ambition to become a corporate chief executive.

The surprise announcement cast uncertainty over the management succession at $86 billion-asset U.S. Bank.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.