U.S. Bancorp in Minneapolis has named Tim Welsh, a longtime consultant to the banking industry, as its new head of consumer and small-business banking.

Welsh will succeed Kent Stone, who announced his retirement earlier this year. He is expected to join the $450 billion-asset company on July 10 and will report to President and CEO Andy Cecere. In his role as vice chairman of consumer banking sales and support, Welsh will oversee U.S. Bank’s overall consumer and small-business strategy, as well as digital activities.

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