U.S. Bancorp (USB) has chosen an insider as the next head of its mortgage division.
The Minneapolis company announced Monday that Rick Aneshansel would succeed Dan Arrigoni as the president of its U.S. Bank Home Mortgage unit. Arrigoni is set to retire June 30.
Aneshansel is currently chief financial officer of the mortgage unit and has been with the company since 1995. Earlier, he worked for Metmor Financial in Overland, Kan., and Sunbelt National Mortgage Corp. in Dallas He sits on the Financial Services Roundtable's housing policy executive council and Fannie Mae's single-family national customer advisory board.
U.S. Bank Home Mortgage will conduct a search for a CFO to replace Aneshansel, a spokeswoman for the $354 billion-asset company said.
Arrigoni has lead the mortgage business for U.S. Bank and its subsidiaries since 1996. He joined the company from Margaretten Financial, which bought North American Mortgage, a company he founded, in 1984. Margaretten is now a part of JPMorgan Chase (JPM).
"U.S. Bank has grown a stellar reputation among mortgage lenders thanks in large part to [Arrigoni's] leadership and the team he has built at U.S. Bank Home Mortgage," Kent Stone, vice chairman of consumer banking sales and support at U.S. Bank, said in the press release. "[Aneshansel] has been a key member of that team. His experience and deep understanding of the mortgage industry will pave the way for continued success."
U.S. Bank Home Mortgage originates $85 million and services $260 million worth of loans annually, it said. It has 40 loan-production offices nationwide.
