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U.S. Bank Names New Head of Commercial Banking

Elliott Jaffee will focus on growth in the $10 million to $500 million-client segment.

Charged with expanding its national presence in wholesale banking, Minneapolis-based U.S. Bank had named Elliott Jaffee to lead its commercial banking division, overseeing nearly 550 people in offices across 25 states. Jaffee succeeds Kenneth Ladd, who retired at the end of 2012 after 30 years of service with U.S. Bank.

"Elliot is a dynamic leader and a great banker, who our middle market business clients trust and respect," said Dick Payne, U.S. Bancorp vice chairman and head of wholesale banking (under which the commercial banking division falls), in a press release. "For the past several years, U.S. Bank has grown from being a very good regional wholesale bank to a great national wholesale bank. As head of commercial banking, Elliot will play an important role in helping us build on our momentum in the $10 million- to $500 million-client segment."

Jaffee joined U.S. Bank in 1995 and has more than 20 years of experience in the financial services industry, most of which he spent at U.S. Bank. He has held a number of roles within U.S. Bank corporate bank, stepping into the Twin Cities market president role in 2006. Jaffee became a regional manager in 2010 and is currently responsible for commercial banking in the Twin Cities, Seattle, Portland, Las Vegas, Phoenix and Salt Lake City.

[What kinds of services are corporate customers demanding from their banks today? Read Corporate Mobile Banking Slowly Gaining Traction.]

Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio

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