U.S. Bancorp has appointed Gunjan Kedia as its new Chief Executive Officer, marking a historic milestone in the banking industry. Kedia succeeds Andy Cecere, who transitions to the role of Executive Chairman after nearly eight years as CEO. The leadership change was confirmed during the company’s annual shareholder meeting on April 15, 2025.
Kedia’s appointment is significant, as she becomes the first woman and the first Indian American to lead U.S. Bancorp, the nation’s fifth-largest commercial bank with assets totaling $678 billion as of December 31, 2024. Her promotion also places her among a select group of women heading major U.S. financial institutions, alongside figures like Jane Fraser of Citigroup.
Having joined U.S. Bancorp in 2016, Kedia has held several key leadership roles, including Vice Chair of Wealth, Corporate, Commercial, and Institutional Banking. In May 2024, she was named President, overseeing all revenue-generating lines. Her extensive experience in financial services spans nearly three decades, with previous executive positions at State Street Financial, BNY Mellon, McKinsey & Company, and PwC.
Kedia’s academic credentials include a bachelor’s degree in engineering from the Delhi School of Engineering and an MBA with distinction from Carnegie Mellon University’s Tepper School of Business. She also serves on the boards of PBS, the American Red Cross, and Carnegie Mellon Business School.
In her new role, Kedia aims to focus on organic growth, strategic acquisitions, and enhancing the bank’s digital capabilities. She has expressed a commitment to leveraging technology, including artificial intelligence, to improve productivity and customer experience.
Outgoing CEO Andy Cecere, who has been with U.S. Bancorp for nearly 40 years, expressed confidence in Kedia’s leadership. “Gunjan is an influential executive who understands our business, is skilled in strategic execution, and is driven to help the organization perform at our best,” Cecere stated.
Kedia’s appointment comes at a pivotal time for U.S. Bancorp and the broader banking industry, which faces challenges such as evolving technology, regulatory changes, and shifting customer expectations. Her leadership is expected to guide the bank through these complexities while continuing to uphold its reputation for ethical practices and customer service.
This leadership transition signifies a new chapter for U.S. Bancorp, reflecting both a commitment to diversity and a strategic vision for the future.
