U.S. Bancorp is looking for a new finance chief.

The Portland, Oregon-based company said it is planning to replace executive vice president and treasurer Paul M. Devore, 57. A bank spokeswoman said Mr. Devore "is looking at retiring," though no departure date has been set.

The spokeswoman said Mr. Devore declined to comment; she offered no specific explanation for the bank's plan to replace him. The company has hired an executive search firm, a move the spokeswoman described as "natural succession planning."

Mr. Devore, a former partner with the accounting firm of Deloitte, Haskins & Sells, joined the nation's 34th-largest bank company in 1982 and became its treasurer in 1991. U.S. Bancorp does not officially designate a chief financial officer, but it usually describes Mr. Devore as its CFO.

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