MINNEAPOLIS, MN — In a landmark moment for the U.S. financial industry, Gunjan Kedia officially assumed the role of Chief Executive Officer at U.S. Bancorp on April 15, 2025. Her appointment marks a historic milestone as she becomes the first woman of color to lead a major U.S. bank, succeeding Andy Cecere, who transitions to the role of Executive Chairman.
Kedia’s elevation to CEO was announced earlier in the year, with the formal transition taking place during U.S. Bancorp’s annual shareholder meeting. She also joins the company’s Board of Directors, solidifying her leadership position within the organization.
With nearly three decades of experience in the financial services sector, Kedia brings a wealth of knowledge and expertise to her new role. She joined U.S. Bancorp in 2016 and has since held several key positions, including Vice Chair of Wealth, Corporate, Commercial, and Institutional Banking, and most recently, President, where she oversaw all revenue-generating lines of business.
Prior to her tenure at U.S. Bancorp, Kedia held executive roles at prominent financial institutions such as State Street Financial and BNY Mellon. Her career also includes leadership positions at consulting firms McKinsey & Company and PwC, where she specialized in financial services.
Kedia’s academic credentials include a Master’s in Business Administration with distinction from Carnegie Mellon University’s Tepper School of Business and a Bachelor’s degree in Engineering from the Delhi School of Engineering.
Throughout her career, Kedia has been recognized for her leadership and influence in the financial industry. She has been named to American Banker’s “Most Powerful Women in Banking and Finance” list seven times and has appeared twice on Barron’s “100 Most Influential Women in U.S. Finance” list.
Beyond her professional achievements, Kedia is actively involved in various organizations. She serves on the boards of PBS, the American Red Cross, and Carnegie Mellon University’s Business School, reflecting her commitment to community engagement and education.
As CEO, Kedia is poised to lead U.S. Bancorp through a transformative period in the banking industry. She has outlined a strategic focus on accelerating growth, enhancing the bank’s payments business, and improving productivity through technological innovation, including the adoption of artificial intelligence.
“We are at an important inflection point,” Kedia stated in an interview. “There is meaningful change in the banking industry.” She emphasized the need for U.S. Bancorp to adapt to technological, macroeconomic, geopolitical, and regulatory shifts that are reshaping the financial landscape.
Kedia also highlighted the importance of organic growth and strategic acquisitions, particularly in expanding the bank’s presence in the Southeastern United States. Her leadership aims to position U.S. Bancorp as a forward-thinking institution that leverages innovation to meet evolving customer needs.
The leadership change comes as Andy Cecere steps down after nearly eight years as CEO and a 40-year career with U.S. Bancorp. Under his tenure, the bank prioritized investments in technology and digital capabilities, navigated the challenges of the COVID-19 pandemic, and completed significant mergers, including the acquisition of MUFG Union Bank, which expanded the bank’s presence in California.
Cecere expressed confidence in Kedia’s ability to lead the bank into the future. “She is an influential executive who understands our business, is skilled in strategic execution, and is driven to help the organization perform at our best,” he said.
Kedia’s appointment is a significant step toward greater diversity and inclusion in the upper echelons of the banking industry. She joins a small group of women leading major U.S. banks, including Jane Fraser of Citigroup. Her leadership is expected to inspire future generations and signal a shift toward more inclusive corporate governance.
As U.S. Bancorp embarks on this new chapter under Kedia’s leadership, the bank aims to build upon its strong foundation of integrity and customer service while embracing innovation to drive growth and meet the challenges of a rapidly evolving financial landscape.
