U.S. Bancorp has hired a former Santander Bank executive to oversee the diversified industries segment of its large corporate banking division in New England.
Ravi Kacker will oversee $403 billion-asset U.S. Bancorp's corporate client portfolio and lead development initiatives in the New England region, the company said in a Thursday news release. The largest corporate banking division serves clients with at least $500 million in yearly revenue.
"Boston is the next logical east coast location for expansion, joining New York City and Charlotte as eastern hubs for our business," Richard Raffetto, head of U.S. Bank's national corporate banking diversified industries business unit, said in the release.
Kacker, who will be based in Boston, had been senior vice president of corporate and investment banking at Santander. Kacker has 25 years of experience in banking, including stints at FleetBoston Financial and BankBoston.
"We see a significant opportunity to grow in the New England market under Ravi's leadership," Walter Parelli, manager of the northeast corporate division for U.S. Bank, said in the release.