PORTLAND, Ore. -- U.S. Bancorp announced three high-level appointments to replace retiring executives.

Steven P. Erwin, formerly of BayBanks Inc. in Boston, was named executive vice president and chief financial officer. Lamoine Saunders, formerly of Banc One Corp., became executive vice president of information systems and operations. Jeffrey T. Grubb moved from the insurance division to become senior vice president and manager of the asset management division.

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