U.S. Bancorp reshuffles corporate and commercial leadership

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U.S. Bancorp in Minneapolis announced a slew of leadership changes to its corporate and commercial banking business that includes the creation of new post overseeing strategy.

Jim Kelligrew, the vice chair of corporate and commercial banking at the $532 billion-asset company, said in a press release that the organizational changes would speed up decision making and sharpen the group's strategic focus. Until recently, Kelligrew co-led U.S. Bancorp’s corporate and commercial banking group with Leslie Godridge. She retired in April, leaving Kelligrew the sole leader of the group.

“We have a group of exceptionally talented U.S. Bank leaders with deep expertise and an unwavering commitment to clients,” Kelligrew said. “Our newly organized team will help us push forward and take a strategic lead in this new environment.”

Elliot Jaffee, who previously led the commercial banking team, will now lead the group’s strategic initiatives in a new role as head of corporate and commercial banking strategy. His responsibilities will include deposit strategy, digital transformation and advanced data analytics.

Hassan Salem is now the company’s new head of commercial banking. Previously a regional president, Salem will now lead a team that works with middle-market customers and provides local leadership.

As the new head of corporate banking, Felicia La Forgia will oversee corporate client activity across all of U.S. Bancorp’s industry, geographic and government centers. Before this, she ran the company’s oil and gas, retail and apparel and utilities industries.

Joseph Murphy will become chief credit officer for the corporate and commercial banking group. Previously he led the bank’s government banking and financial institution businesses, as well as portfolio management for corporate banking.

Finally, Shannon Donnelly was named the group’s new chief administrative officer. She had been the chief operating officer for fixed income and capital markets.

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Commercial banking Middle market U.S. Bancorp