U.S. Bank has announced the promotion of Gunjan Kedia to the position of president, signalling a significant milestone in her career trajectory within the Minneapolis-based lender. At 53, Kedia steps into this role with expanded responsibilities, reflecting her demonstrated leadership and contribution to the organisation.
In her previous role as vice chair and head of wealth management, Kedia already held considerable responsibility. However, her promotion last year to oversee corporate and commercial banking further solidified her position within the bank’s leadership hierarchy.
Analysts speculate that Kedia’s elevation to president positions her as a likely successor to CEO Andy Cecere. This move is seen as a strategic decision to ensure continuity and stability in U.S. Bank’s executive leadership team.
In response to Kedia’s promotion, Cecere praised her as “a visionary leader” who understands the intricacies of the business and is dedicated to driving optimal performance. Kedia’s track record of serving clients, building robust teams, and upholding the bank’s values aligns with U.S. Bank’s long-term objectives.
Expressing her gratitude for the opportunity, Kedia stated, “I am deeply honored to be trusted with this opportunity to drive our future success in a broader way.” She emphasized her commitment to collaborating with leaders across various business lines to propel the organization towards further growth and innovation.
In her new capacity as president, Kedia will oversee U.S. Bank’s wealth, corporate, commercial, and institutional banking; consumer and business banking; and payment services divisions. Reporting directly to CEO Cecere, Kedia will play a pivotal role in shaping the bank’s strategic direction and fostering sustainable growth.
While analysts anticipate a potential CEO transition, they expect it to occur gradually, with Kedia assuming a more prominent role in the organisation’s decision-making processes. Kedia brings a wealth of experience to her new role, with a career spanning over three decades in consulting firms and executive roles in banking.
With this promotion, Kedia’s compensation package also sees a significant increase, reflecting the bank’s confidence in her leadership abilities and strategic vision. Her elevated responsibilities underscore U.S. Bank’s commitment to nurturing talent from within and ensuring a seamless transition in executive leadership.
As U.S. Bank embarks on this new chapter under Kedia’s leadership, stakeholders anticipate continued growth, innovation, and commitment to delivering value to clients and shareholders alike.
