U.S. Bancorp in Minneapolis has promoted Andrew Cecere to become its chief operating officer.

Cecere will remain vice chairman of the $387 billion-asset company, which he has been with for three decades. In his new role, Cecere will oversee all operations for consumer and small-business banking, wholesale banking, commercial real estate, payment services, wealth management and securities services.

"One of U.S. Bank's core strengths is our continuity of executive leadership, which has been established through a carefully managed and time-tested process," Richard Davis, the company's chairman, president, and chief executive, said in a press release Tuesday. "Moving Andy into the COO role is an example of that thoughtful and deliberate process."

Kathy Ashcraft Rogers, who has been the company's executive vice president of business line planning and reporting, will succeed Cecere as chief financial officer. Rogers has been with the company for 28 years.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.