U.S. Bancorp promoted Shelley Thompson to executive vice president in charge of private financial services.

She succeeds Kent Larson, who is retiring from the Minneapolis banking company. The division encompasses private banking, personal trust, and investment management for wealthy individuals.

Ms. Thompson joined $74 billion-asset U.S. Bancorp last year as a senior vice president overseeing personal trust services.

She had worked for 10 years until 1996 at Wells Fargo & Co., San Francisco, finishing up as executive vice president and group head for personal investment, trust, and private banking. She had also been a trust counsel for Citicorp in Los Angeles and had practiced law with two firms in California.

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