News

U.S. Bank names Jimmy Whang
head of Commercial Products 

June 28, 2023

Whang to lead fixed income, capital markets and working capital finance businesses 

U.S. Bank today announced that Jimmy Whang has been named the head of its Commercial Products group, effective June 30. In this role, Whang will lead Fixed Income and Capital Markets (Capital Markets and Sponsor Finance; Credit Fixed Income; Structured Credit; Derivatives; Foreign Exchange; Municipal Products; and ESG strategies) and Working Capital Finance (Asset Based Finance; Global Trade and Supply Chain Finance).

“Jimmy has an exceptional track record of anticipating needs and partnering with our clients – corporate and midsize, sponsors, government and not-for-profit – on finance solutions that help them succeed,” said Stephen Philipson, head of Global Markets and Specialized Finance. “With Jimmy’s leadership and focus on delivering best-in-class products and expertise to our clients, we’ll continue to grow this important business, which now ranks among the top banks in bond and loan underwriting, as well as interest rate and currency hedging for corporations.”

Whang, who joined U.S. Bank in 2009 and helped it become one of the top originators of investment-grade bonds, most recently served as head of Credit Fixed Income, Municipal Products, and Structured Credit. In this role, he oversaw the bank's corporate and municipal bond origination, sales, and trading activities. Additionally, he was responsible for structured credit products, including asset backed securities, collateralized loan obligations, and subscription finance. Before joining U.S. Bank, Whang had senior roles at top financial institutions in both New York and Charlotte. Today, he is based in Charlotte, where U.S. Bank has a significant presence.

Whang replaces Stephen Philipson, who was recently promoted to a new role overseeing Global Markets and Specialized Finance (GMSF). In addition, Philipson was elevated to the U.S. Bank Managing Committee, its senior-most leadership group. GMSF includes the following businesses: Commercial Products, Global Corporate Trust and Custody, U.S. Bank Equipment Finance, and U.S. Bancorp Asset Management.

GMSF is part of U.S. Bank’s Wealth, Corporate, Commercial and Institutional Banking (WCIB) organization. One of the core business lines at U.S. Bank, WCIB also includes Commercial Banking, Commercial Real Estate, Corporate Banking, Global Fund Services, and Wealth Management. The business line is led by U.S. Bank Vice Chair Gunjan Kedia.

# # #

Contact:

Todd Deutsch, U.S. Bank Public Affairs & Communications

todd.deutsch@usbank.com | 612.303.4148


About U.S. Bank

U.S. Bancorp, with approximately 77,000 employees and $682 billion in assets as of March 31, 2023, is the parent company of U.S. Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diversified mix of businesses: Consumer and Business Banking; Payment Services; Corporate & Commercial Banking; and Wealth Management and Investment Services. Union Bank, consisting primarily of retail banking branches on the West Coast, joined U.S. Bancorp in 2022. U.S. Bancorp has been recognized for its approach to digital innovation, social responsibility, and customer service, including being named one of the 2023 World’s Most Ethical Companies.

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U.S. Bank names Srini Nallasivan chief analytics officer

Nallasivan joins the bank with years of experience in customer experience-focused data and analytics.

U.S. Bank receives ‘Outstanding’ Community Reinvestment Act rating

Lending, Investment and Service tests also given “Outstanding” ratings.

U.S. Bank has built a top sports finance business under Bill Mulvihill

We’ve grown into one of the largest players in the space over the past decade under Bill Mulvihill.

U.S. Bank hires Peter Gordon as head of emerging payments product and strategy

His initial focus will be maximizing the use of RTP® and Zelle® throughout the company.

U.S. Bank executive Jim Kelligrew drives results by bringing people together

The U.S. Bank executive focuses on building teams at work and in the community.

U.S. Bank launches Instant Card solution for companies with remote employees

Companies can quickly provide access to a corporate card as well as set spending limits and expiration dates.

U.S. Bank launches new low-rate, quick loan during federal government shutdown

Customers are encouraged to contact our designated federal government shutdown line.

U.S. Bank announces new leaders and changes in Corporate & Commercial Banking

Corporate & Commercial Banking is one of four main business lines at the company.

U.S. Bank acquires talech

Businesses gain simplicity, efficiency and ability to compete in rapidly-growing digital marketplace.

U.S. Bank and Chrome River launch Expense Wizard

First mobile solution to push virtual cards to mobile wallets for businesses.

U.S. Bank celebrates expansion into Charlotte and its 26th state

The new branch featured a team of bankers and the latest technology.

U.S. Bank announces new leaders in Fixed Income & Capital Markets

The business is part of Corporate & Commercial Banking.

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Gil Yehuda opens the door to open source at U.S. Bank

Our open source leader is using the strength of the software community to drive continuous innovation.

U.S. Bank launches Triple Cash Rewards Visa for business with 3% cash back

Cardholders can also qualify for an annual software expense credit.

Rural cities look to the sun for economic development

New solar project in Arkansas exemplifies trend in job creation and environmental sustainability.

Root of U.S. Bank financial strength traces back to Lincoln

The national charter for predecessor First National Bank of Cincinnati was signed in 1863.

U.S. Bank interns compete to help St. Louis small business thrive post-pandemic

This summer, our 16 master’s-level summer interns are competing in a case competition to support Flavia Moore and Crawling Crab during the post-pandemic recovery.

U.S. Bank initiative with CDFIs will invest in developers of color

Grants to CDFIs will provide technical assistance to real estate developers of color.

Why this serial entrepreneur chose to join a 150-year-old bank

Ian Eslick is head of enterprise engineering, technology strategy and modernization at U.S. Bank.

Cleantech entrepreneur Ciara May wants to recycle your hair

The Rebundle founder is $25,000 winner of the 2021 U.S. Bank Foundation Cleantech Inclusion Award.

U.S. Bank, Enterprise Community Partners announce innovative racial equity bond

The $30 million bond will support housing developers of color.

Freight spending now highest in history of U.S. Bank Freight Payment Index

Truck driver and capacity shortages – and rising fuel prices – cause spending to jump more than 10% in the second quarter.

Expanded agreement to enhance wholesale banking lending experience for clients

Collaboration with nCino will result in an easy-to-use platform with greater efficiencies for clients through entire lending process.

U.S. Bank announces acquisition

U.S. Bancorp Asset Management will acquire PFM Asset Management.

U.S. Bank provides update on commitment to addressing economic inequities

In the aftermath of George Floyd’s killing in Minneapolis a year ago, our company committed to several initiatives to address social and economic inequities.

Ankit Bhatt needs help serving millions of customers

Our consumer digital leader is hiring customer-obsessed colleagues to shape the U.S. Bank Mobile App and more.

Meet Felicia La Forgia, head of U.S. Bank Corporate Banking

New York City leader talks about her immigrant parents’ influence and her new role at one of the largest banks in the United States.

Pride is a part of everyday life at U.S. Bank in West Hollywood

A recent makeover is the latest in how employees make sure the branch reflects its surrounding community.

Ozark banker steps up as tornado touches down

Glynda Dickinson turned to an old bank vault and new technology to help customers.

For Juneteenth, heed ‘Separate and Unequal’ warning and move forward together

Our Chief Diversity Officer Greg Cunningham reflects on the historic Kerner Commission – and expresses optimism that this time will be different.

New online resource provides business owners with ethics guidance

With support from U.S. Bank, the Center for Ethics in Practice at the University of St. Thomas Opus College of Business is launching the Business Ethics Resource Center.

Oatmeal and raisin’ young leaders

This Minnesotan nonprofit’s cookies-with-a-cause will be a hot commodity for tourists braving the cold.

Minneapolis business owners take virtual stage at The Atlantic Festival 2020

The annual event put on by The Atlantic gathers leaders across industries to discuss consequential issues.

Kiplinger says U.S. Bank digital mortgage tools are best in the industry

The personal finance publication also named U.S. Bank the best mortgage lender for ages 18-34.

New mural adorns branch that lives at intersection of Black history

U.S. Bank and our employees have long been a part of the historic Five Points neighborhood in Denver.

In #SupportLocal, U.S. Bankers thank small businesses and first responders

Our branch employees are rallying around local partners amid business disruption caused by the pandemic.

How Lot, Stock & Barrel acted fast after Coachella was cancelled amid pandemic

The growing Los Angeles small business received support from PACE and U.S. Bank.

How Lawrence Arts Center is helping youth learn the business side of art

Lawrence Arts Center is one of 20 inaugural grant recipients from the $1 million U.S. Bank Market Impact Fund.

Get to know Hassan Salem, the new head of Commercial Banking at U.S. Bank

Based in Denver, the ski industry expert and theater fan leads a national team serving middle market clients.

How this family bought their first home in a red-hot housing market

During Hispanic Heritage Month, U.S. Bank is recognizing Latinos helping one another realize their aspirations.

Future executives bring creativity and confidence to the boardroom table

U.S. Bank has partnered with Technovation for the past three years to help introduce girls to technology careers.

Hammer Made for the economic recovery

Minnesota men’s clothing boutique expands to Chicago, Atlanta and Boston.

Home for the first of many holidays

U.S. Bank helped develop a financing structure that has made homeownership possible for thousands of people.

U.S. Bank launches industry-leading video banking options for customers

New live video enhancements give customers support and guidance from their local branch banker, wherever they are.

Fifty-year anniversary of Fair Housing Act hits home for Lenny McNeill

The U.S. Bank mortgage leader reflects on how its passage opened the door for his family.

New U.S. Bank branch celebrates Pride and previews the future of banking

The branch is located in the first officially recognized LGBTQ+ neighborhood in the United States.

Survey finds COVID-19 accelerated virtual care, healthcare payments digitization

The new data is from the proprietary and third annual Healthcare Payments Insight Report from U.S. Bank.

#SupportLocal highlights passion and perseverance of small businesses

U.S. Bank is supporting and celebrating customers with a social media campaign as economy recovers.

Entrepreneur Eric Seals is growing Digifé with a focus on storytelling diversity

U.S. Bank recently donated $1 million to Chicago nonprofit CNIMFG to expand access to capital.

EnJunaya Canton quit a six-figure job to start fast-growing Zuhuri Beauty

U.S. Bank and nonprofit PACE have helped the business stay on track for growth as it has navigated COVID-19.

How psychologists and historians are helping U.S. Bank clients amid the pandemic

The pandemic has brought an urgency to tackling what have been taboo conversations for many families.

Elavon technology helps shape the future of iconic UK charity

The Royal British Legion is using cashless terminals to collect donations supporting service members and families.

Elavon and Societe Generale partner for pan-European payment services

Elavon will provide payment services to Societe Generale’s business clients in eight countries.

Elavon is ready for growth with Atlanta office expansion

U.S. Bancorp subsidiary pivots to meet digital needs of its more than 1 million customers worldwide.

Elavon acquires Sage Pay

The acquisition is part of Elavon’s strategy to help customers become more digital, efficient.

Elavon acquires CenPOS

Elavon CEO Jamie Walker says acquisition will benefit customers of both companies.

Chicago is just right for the U.S. Bank derivatives team

Under Jonathan York, the team has been growing in the Windy City as competitors have left town.

Dr. Tanu Luke highlights leading roles of women in history of tech innovation

We teamed up with Microsoft and nonprofit Women in Voice for a virtual hackathon event.

Competitive skier-turned-banker shares her view from the top

We are growing our role as a leader in financing the ski industry under Jennifer Kaufman.

Denver nonprofit introduces girls to 3-D printing

We donated $20,000 to create a new makerspace for Girls Inc.’s STEM program.

Big Blue to the rescue

Washington bankers took mobile banking to the next level after a customer service emergency.

Community artwork continues on front porch of U.S. Bank in Charlotte

We are partnering with artists who helped create the Black Lives Matter street mural in uptown Charlotte.

U.S. Bank Altitude Connect reunites people with the faces and places they love

Our travel rewards credit card launches as desire to travel again takes off.

Andy Cecere talks digital transformation, expansion strategy and more in new Q&A

Our chairman, president and CEO recently spoke with the Minneapolis/St. Paul Business Journal.

New U.S. Bank survey shows CFOs are focused on growth in recovering economy

The survey reveals finance leaders are in a unique position to unleash business transformation.

Plaid and U.S. Bank collaborate to deliver a secure open finance experience

The rapid integration enables improved choice and flexibility for customers when linking third-party apps with their accounts.

U.S. Bank named a 2021 World’s Best Bank by Global Finance Magazine

We won the top honor in three U.S. regions: Great Lakes, Plains and Southwest.

U.S. Bank now offering customized suite of solutions for SPACs

SPACs have grown in popularity from a specialty niche market to a global, multibillion-dollar vehicle.

U.S. Bank provides $450,000 investment in Russell Center for Innovation and Entrepreneurship

Our employees will provide on-site counsel and guidance on financial, payments, technology and innovation topics.

U.S. Bank pilots new financial wellness program with Operation HOPE

We’re partnering with the nonprofit organization for the pilot program in Denver and Chicago.

U.S. Bank details new cryptocurrency offerings

We’re launching three new initiatives to meet growing needs of clients.

U.S. Bank introduces passive currency hedge service for institutional investors

The tool is powered by currency management provider Lumint Corporation’s industry-leading technology.

U.S. Bank launches VantagePoint Accounts Receivable Matching

This feature further enhances our leading corporate accounts receivable automation service.

U.S. Bank investing in currency management provider Lumint

Earlier this year, we launched a new passive currency hedging service powered by Lumint technology.

U.S. Bank innovation team says these tech trends from CES 2021 are here to stay

The U.S. Bank innovation team has made it an annual part of our research efforts to attend CES.

U.S. Bank simplifies accounts payable with AP Optimizer

AP Optimizer connects businesses to the established Bottomline Paymode-X network of 450,000 suppliers.

U.S. Bank signs agreements with top data aggregators, bolstering API efforts

Agreements will make it easier, faster and more secure for customers to connect their account information.

U.S. Bank serves up a financial lifeline to restaurants in Little Mekong

The COVID-19 pandemic has been challenging for business owners in the historic and cultural district of St. Paul.

U.S. Bank reopens Paycheck Protection Program (PPP) application process for first- and second-draw loans

Businesses will have until March 31, 2021 to apply or until funds run out.

U.S. Bank Freight Payment Index: Shipments, spending slow in Q1 2021

The U.S. Bank Freight Payment Index is a quarterly analysis of national shipments and spend.

U.S. Bank Altitude Go named ‘best credit card for ordering in’ by NerdWallet

The card offers rewards for takeout and delivery, as well as streaming services.

How Kercedric Holley-Bell helped her team thrive amid the pandemic

She was part of a Top Team recognized by American Banker’s Most Powerful Women in Banking and Finance program.

U.S. Bank continues arts support in Charlotte with jazz masterpiece

The performance honored North Carolina-born drummer and composer Max Roach.

Milwaukee developer Brandon Rule aims to help close the racial wealth gap

As part of broad commitment, U.S. Bancorp Community Development Corporation is working to deepen relationships with Black developers.

U.S. Bank launches eco-friendly debit cards

The debit cards made with ROBP offer customers new way to show their love of the ocean and help the environment.

U.S. Bank appoints Marcus Martin head of ESG for Fixed Income & Capital Markets

Martin brings twenty years of industry experience and an established record of success.

Barron’s names Gunjan Kedia to 100 Most Influential Women in U.S. Finance

Kedia is vice chair of Wealth Management and Investment Services at U.S. Bank.

U.S. Bank names Derek Martin St. Louis market president

Martin will lead the Commercial Banking group in the St. Louis market.

U.S. Bank innovation team examines two major trends at SXSW

The annual conference is a hot spot for discussing culture and its impact on business and consumers.

State Farm® and U.S. Bank unveil new consumer and business credit cards

State Farm customers can receive cash back on insurance premium payments and the things they buy every day.

U.S. Bank supports clients during pandemic with loans, bond offerings

We helped clients raise billions in the fixed income and loan capital markets.

U.S. Bank first to offer new AI-powered savings feature

The patented Pay Yourself First feature gives customers intelligent recommendations to increase savings.

This U.S. Bank branch on wheels brings new meaning to mobile banking

When disaster strikes, our Mobile Financial Center ensures customers have access to essential banking services.

The first U.S. Bank tax credit deal in Puerto Rico is helping fight COVID-19

Our $4.2 million NMTC investment helped a pharmaceutical manufacturer expand operations.

This aspect of your credit card is changing – here’s why

Our retail payments head Steve Mattics discusses the design process behind the new U.S. Bank Altitude Go.

Betsy Cadwallader focuses on ‘resilience and recovery’ in new leadership role

The regional Commercial Banking leader’s expanded portfolio at U.S. Bank spans from Pacific Northwest to the Rockies.

U.S. Bank rolls out Business Leverage Visa Signature card

New business credit card was uniquely designed for business owners, by business owners.

U.S. Bank taps local artist Jonesy for mural at branch in Cincinnati

We have a long history of community development and engagement in the neighborhood.

John C. Stern named president of U.S. Bank Global Corporate Trust and Custody

Stern, a 20-year veteran of U.S. Bank, will assume the role effective May 17, 2021.

U.S. Bank taps into tech talent at nearby community and technical college

New partnership with Minneapolis College includes recent hackathon, scholarships, guest lectures and more.

Innovation Leader names Dominic Venturo to Top 25 Most Influential Innovators list

Venturo and U.S. Bank recognized for new innovations developed in 2020.

U.S. Bank participates in first ever real-time payment on RTP system

U.S. Bank among first banks to use The Clearing House's new real-time payments system.

U.S. Bank Voyager Fleet Program expands to government agencies, schools, more

Our contactless payment solution is now available through Sourcewell.

U.S. Bank launches digital small business lending

New process is designed to serve single-owner businesses seeking up to $250,000.

U.S. Bank launches Simple Loan to meet customers’ short-term cash needs

Customers can borrow between $100 and $1,000 with no hidden fees.

U.S. Bank to close branches early to recognize Juneteenth

Customers are encouraged to access mobile and digital banking services or its ATM network that afternoon.

U.S. Bank launches new credit cards for BMW, MINI and BMW Motorrad enthusiasts

The cards offer spending rewards and convenient technology such as contactless payment capabilities.

U.S. Bank to help Cincinnati girls earn new Girl Scout cybersecurity badge

The bank is partnering with Girl Scouts of Western Ohio to provide hands-on training at its Cyber Defense Center.

U.S. Bank announces assistance for customers affected by COVID-19 pandemic

Customers are encouraged to visit service information webpage or contact designated phone line.

U.S. Bank and Intuit make it simpler for customers to share information

Agreement will allow customers to connect their data using an application programming interface.

U.S. Bank customers embrace faster, simpler way to open digital accounts

Digital checking account openings up 200% year-over-year following launch of new application experience.

U.S. Bank announces new eBill Service

We partnered with fintech company Alacriti.

U.S. Bank commits $116 million to address social and economic inequities

We’re also rebuilding in our hometown Minneapolis to continue to support customers.

U.S. Bank adding retail banking to Charlotte presence in 2019

The first branch to be located at 201 S. Tryon Street in historic Uptown area.

U.S. Bank announces several key leadership changes

The executive appointments further our commitment to people, diversity, equity and inclusion, and business transformation.

New U.S. Bank Mobile App delivers unprecedented personalized insights

We rebuilt the app from scratch based on insights from customers.

New Everyday Funding offering speeds up access to funds for business owners

It makes funds available faster and more often as merchants receive payments from customers.

State Farm and U.S. Bank announce strategic alliance

State Farm and its affiliates are the largest providers of auto and home insurance in the United States.

More than 75,000 small businesses secure PPP loans through U.S. Bank

Loans have the potential to support more than 800,000 employees across the country.

Think tank helps U.S. Bank reach millennials and Gen Z

Dynamic Dozen reverse mentoring program connects U.S. Bank with next generation of consumers.

New U.S. Bank Mobile App has now delivered 100 million personalized insights

The app now also has a Spanish language option.

Leslie Godridge to retire from U.S. Bank; Jim Kelligrew assumes vice chair role

Godridge and Kelligrew have co-led the division for the past four years.

New ranking says U.S. Bank has been most essential bank amid COVID-19 pandemic

The Harris Poll ranking polled Americans on resolve, trustworthiness, responsiveness and permanence.

Introducing the U.S. Bank Smart Assistant

A unique voice-forward approach will give customers a simplified, intuitive way to bank unlike any other – just ask.

Water purification startup wins inaugural U.S. Bank Cleantech Inclusion Award

The program supports female and minority entrepreneurs driving innovation in environmental sustainability.

USBCDC finances $50 million in capital to CDFIs amid pandemic

The seven CDFIs receiving capital are across the country.

What the ADA anniversary means to me

Accessibility consultant Christina Granquist shares how designing for disabilities shaped the new voice assistant in the U.S. Bank Mobile App.

Customers can now complete banking tasks with U.S. Bank skill for Amazon Alexa

New feature extends our history of innovation for consumers and businesses.

Introducing U.S. Bank Access Commitment

It is a series of initiatives across the business to increase wealth building opportunities, starting with the Black community.

Introducing the U.S. Bank Loan Portal

Digital portal makes it easier to upload documents, retrieve asset and income information.

Amid record usage, U.S. Bank mobile check deposit named best in class

The continually improving feature is one of many ways that we have served customers amid the pandemic.

A message from U.S. Bank Chairman, President and CEO Andy Cecere

Our top priority is to keep people safe.

An update from U.S. Bank Consumer and Business Banking Vice Chair Tim Welsh | Company blog | U.S. Bank

The well-being of our customers, colleagues and communities continues to be our top priority.

1992 kicked off years of rapid change at U.S. Bank

Our Minnesota-based company, and banking itself, looked very different the last time the big game came to town.

One year later, U.S. Bank branch employees reflect on COVID-19

We’ve relied on both technology and ingenuity to serve customers amid the pandemic.

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