MINNEAPOLIS — U.S. Bancorp has announced the appointment of Gunjan Kedia as its new Chief Executive Officer, effective April 15, 2025, following the company’s annual shareholder meeting. Kedia, who has served as President since May 2024, becomes the first woman and the first woman of color to lead the 160-year-old institution. She also joins the company’s Board of Directors.
Kedia succeeds Andy Cecere, who will transition to the role of Executive Chairman after nearly eight years as CEO. Cecere, with a tenure spanning almost four decades at U.S. Bancorp, has held various leadership positions, including Chief Operating Officer and Chief Financial Officer.
“Gunjan is a proven leader who understands how to build high-performing teams and drive innovation,” said Roland Hernandez, Lead Independent Director of U.S. Bancorp’s Board.
Kedia, 54, brings nearly 30 years of experience in the financial services industry. Before joining U.S. Bancorp in 2016, she held executive positions at State Street Financial and BNY Mellon, and leadership roles at McKinsey & Company and PwC.
Her appointment is seen as a significant step toward enhancing diversity in financial services leadership. Kedia is among a select group of women leading major U.S. financial institutions, joining the ranks of leaders like Jane Fraser of Citigroup.
In her new role, Kedia aims to focus on enhancing customer experience through technology, expanding business banking, and building a more agile operating structure. “We will build on a solid foundation of integrity and doing business the right way to drive growth,” Kedia stated.
U.S. Bancorp, headquartered in Minneapolis, is the fifth-largest commercial bank in the United States, with over $678 billion in assets and more than 70,000 employees. The bank has been recognized for its digital innovation, community partnerships, and customer service, including being named one of the 2024 World’s Most Ethical Companies and Fortune’s most admired superregional bank.
Kedia holds a master’s degree in business administration with distinction from Carnegie Mellon University and a bachelor’s degree in engineering, also with distinction, from the Delhi School of Engineering. She serves on the boards of PBS, the American Red Cross, and Carnegie Mellon Business School.
Her appointment is expected to position U.S. Bancorp for its next phase of growth and innovation, as the bank continues to navigate the evolving financial landscape.
