U.S. Bancorp Promotes Cecere to President as He Keeps COO Title

U.S. Bancorp, the country’s largest regional lender, named Chief Operating Officer Andrew Cecere as president, cementing his status as the company’s second-highest ranked executive.

Cecere, 55, who is also vice chairman, will remain COO and continue to report to Chief Executive Officer Richard Davis, who is relinquishing the title of president, the Minneapolis-based lender said Tuesday in a statement.

“Promoting Andy to president is a logical next step in his executive progression,” Davis, 57, said. Cecere has been with the bank since 1985, the firm said.

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