U.S. Bancorp Names Dolan as CFO

U.S. Bancorp promoted Terry Dolan, its wealth management and securities services head, to the role of chief financial officer on Monday.

Mr. Dolan will replace Kathy Rogers, who is stepping down from the job at the beginning of August because of "changing family circumstances" after more than a year in the role, a news release said. She will stay at the Minneapolis-based bank and will head up its submissions to the Federal Reserve for its annual stress tests.

The appointment of Mr. Dolan comes at a time when the bank has ramped up succession planning for longtime Chief Executive Richard Davis. In January, Chief Operating Officer Andrew Cecere was given the additional title of president.

Mr. Dolan, a U.S. Bank veteran and licensed pilot, has been vice chairman and the head of wealth management and securities services since 2010.

Like others, the fifth-largest bank in the U.S. by assets has faced challenges from low interest rates and a slow-growing economy.

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(END) Dow Jones Newswires

June 13, 2016 13:45 ET (17:45 GMT)

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