MINNEAPOLIS--(BUSINESS WIRE)--Jeffrey W. Jones has been named president of U.S. Bank Corporate Payment Systems, succeeding Kurt Adams, who left the bank earlier this month. A 32-year U.S. Bank veteran, Jones has been head of its Global Treasury Management group since 2001. His appointment is effective today.
U.S. Bank Corporate Payment Systems helps organizations reduce payment costs and enhance efficiency through the use of travel, purchasing, fleet and aviation charge cards as well as virtual accounts and other payment products. With 1,000 employees in North America and Europe, the business processed $53.6 billion in payments volume in 2014. It is the second-largest issuer of corporate travel cards and third-largest issuer of purchasing cards in the United States*. Its Freight Payment business was a pioneer in its industry and continues to be one of the largest in the world.
“Jeff’s management acumen, demonstrated over many years at the bank, makes him the ideal choice to take the reins of our corporate payments business and position it for robust growth,” said U.S. Bank Vice Chairman for Payment Services Shailesh Kotwal. “Under his astute leadership, our Global Treasury Management group transformed into a premier provider of consultative working capital management solutions, top ranked by the Greenwich Quality Index and other independent reviewers. He will bring that same energy and forward-thinking approach to his new role.”
Jones, who joined the company in 1983, held a variety of roles in wholesale banking before assuming leadership of the Global Treasury Management group in 2001. In that capacity, he was responsible for developing and providing treasury management, payment and international trade solutions to corporate, commercial, institutional and small business clients. He is a graduate of Stanford University, where he earned degrees in economics and political science.
“I am honored and excited to accept this position at a time of tremendous opportunity for the business,” Jones said. “The rapid development of mobile and other forms of cardless payment foretells a period of unprecedented innovation in corporate payments. I look forward to leading this world-class team as we strive to create enhanced payments solutions and efficiencies for our customers.”
About U.S. Bank
Minneapolis-based U.S. Bancorp (NYSE: USB),
with $419 billion in assets as of June 30, 2015, is the parent company
of U.S. Bank National Association, the fifth-largest commercial bank in
the United States. The Company operates 3,164 banking offices in 25
states and 5,020 ATMs and provides a comprehensive line of banking,
investment, mortgage, trust and payment services products to consumers,
businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
*The Nilson Report, June 2015 rankings
